🐋 What Have the Giant Altcoin Whales Done During the Price Surge? They Can't Escape On-Chain Data 📊

According to on-chain data provided by Lookonchain, an altcoin whale has started to have a particularly optimistic view on Ethereum (ETH).

According to data observed on the decentralized cryptocurrency exchange Hyperliquid, this whale has added $8.88 million USDC to its previous ETH buy position today. With this addition, the whale's position has increased to $36.3 million and currently has an unrealized profit of $1.4 million.

Additionally, on-chain data shows that some institutional whales are also accumulating Ethereum. According to the data, Abraxas Capital withdrew 49,644 ETH worth $92 million from cryptocurrency exchanges Binance and Kraken today.

The data also reveals that two different cryptocurrency wallets, likely belonging to the same individual or organization, have spent a total of $14.54 million DAI and USDT to purchase 7,293 ETH worth approximately $15 million. The whale's average purchase price is $1,993. At the time of writing, ETH is trading at $2,079.