Crypto News

Ethereum Surges To $3,483 Amidst Whales’ Profitable Moves

Ethereum’s recent ascent to $3,483 marks a significant milestone, bringing it within 39.5% of its all-time high of $4,859 recorded on November 10, 2021.

Today, the cryptocurrency registered a gain of over 4%, reflecting the bullish sentiment surrounding the digital asset.

Onchain insights shed light on the profitability of Ethereum whales amidst ongoing accumulation. Recent data from intotheblock reveals that an impressive 89% of Ethereum holders are currently in profit, underscoring the widespread gains experienced by investors.

Spotonchain’s onchain data unveils the substantial unrealized profits of a prominent Ethereum whale, identified as 0x7a9. The whale strategically acquired 173,859 $ETH through Binance and 1inch, amassing a staggering $496 million worth of Ethereum between February 9 and 24. 

Ethereum Whales Record Massive Percentage Profits

With Ethereum’s price surging by 41.5% over the past 20 days, the whale’s holdings have ballooned to a value of $601 million, yielding an impressive $105 million in unrealized gains.

Further on-chain analysis conducted by Lookonchain highlights significant activity from a wallet associated with the Ethereum Foundation. 

The wallet recently deposited 4,000 $ETH, valued at $13.3 million, to Kraken following Ethereum’s price surpassing the $3,300 mark.

Notably, this wallet received a substantial sum of 39,006 $ETH from EthDev previously and currently holds 33,006 $ETH, emphasizing its influential position within the Ethereum ecosystem.

Meanwhile, in a separate development, Justin Sun, a prominent figure in the crypto community, deposited 100 million $USDT to Binance once again. 

Speculation abounds regarding the intentions behind Sun’s move, particularly considering his recent acquisition of 168,369 $ETH valued at $580.5 million between February 12 and 24.

The unrealized profit from this acquisition stands at approximately $95 million, sparking speculation about potential further accumulation of Ethereum by the address.

As Ethereum continues its upward trajectory, the actions of whales and key players in the ecosystem provide valuable insights into the evolving dynamics of the market, fueling anticipation and speculation among investors and enthusiasts alike.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: cascadecreatives/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *