In a remarkable display of confidence, an anonymous Ethereum whale has acquired approximately 58,134 ETH, valued at around $166 million, over three days. Utilizing major platforms like Binance and 1inch, the investor's average purchase price is $2,850 per ETH.

The most recent transaction involved the expenditure of 10.01 million USDT to purchase 3,413 ETH at approximately $2,933 per ETH. Notably, the whale still holds 19.89 million USDT, indicating the potential for further accumulation.

Market Implications and Whale Activity

  • Price Resistance: Ethereum faces significant resistance around the $2,460 level, where approximately 64.52 million ETH are held by nearly 11 million investors.

  • Exchange Outflows: Over $500 million worth of ETH has been withdrawn from exchanges in the past week, suggesting a trend towards long-term holding and reduced selling pressure.

  • Whale Accumulation: Recent data indicates that whales have accumulated 1.10 million ETH over three days, reflecting strong bullish sentiment.

Potential for Ethereum's Price Surge

The substantial accumulation by whale investors, coupled with significant exchange outflows, points towards a bullish outlook for Ethereum. If the current momentum continues, Ethereum could challenge and potentially surpass the $3,000 mark soon.

#EthereumWhale #ETHAccumulation #CryptoMarketTrends

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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.