Due to the effects of US-Iran tensions, the price of Ethereum fell to $2,155, but found support thanks to intense purchases by whales. After the sharp market sell-offs that followed the US airstrikes on Iran, a large Ethereum whale made a purchase of approximately $39 million worth of ETH.
On June 21, Ethereum mega whales took advantage of the decline by purchasing over 116,000 ETH and saw this period as a buying opportunity.
Technical indicators suggest that the ETH price could rise to around $2,735 in the short term.
A high-asset Ethereum investor collected millions of dollars worth of Ether despite rising tensions in the Middle East and a flight to safety in the markets.
Whale investors were not affected by the sharp drop in Ether prices.
A wallet registered at address 0x7355...213 acquired approximately 9,400 ETH (about $39 million) on June 22, raising its total ETH assets to around $330 million. This purchase took place during a period when ETH was among the worst-performing major cryptocurrencies in the last 24 hours.
The price of Ethereum decreased by 12.8% in the same period, dropping to $2,155. This performance was weaker compared to Bitcoin, which experienced a 4.7% decline. This sharp drop in the markets occurred after news of the US conducting a military attack on Iran. This development signifies an escalation of the tensions between Israel and Iran that began on June 13.
The mentioned whale continued to actively accumulate ETH despite the downtrend and evaluated some of it in Lido's liquid staking protocol.
The timing and size of the purchases indicate that the whale saw this selling pressure as a long-term 'buying opportunity' and did not panic.
Data from Glassnode tracking whale movements paints a similar picture. Wallets holding 10,000 ETH or more increased their net purchases on the day and before the US conducted airstrikes on Iran.
On June 21, mega whales made purchases worth a total of 116,893 ETH (approximately 265 million dollars). This indicates that they viewed the decline not as a selling signal, but as a buying opportunity.
Ethereum is Preparing for a 25% Rise
According to market analyst Sensei, ETH is currently holding above a significant rising trend line and has the potential for a strong price bounce in the coming days.
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