The ETH whale at address 0x7c7…1F7e6 just purchased an additional 1,600.7 ETH, worth about 4.39 million USD, strengthening its position in the cryptocurrency market.
This transaction took place just 5 hours ago according to on-chain data, marking a significant increase in the assets of this ETH whale compared to previous transactions, demonstrating a flexible and profitable trading strategy.
MAIN CONTENT
ETH whale 0x7c7…1F7e6 spent about 4.39 million USD to buy 1,600.7 new ETH.
Previously, the whale bought ETH at 2,502 USD and sold at 2,663 USD.
How did ETH whale 0x7c7…1F7e6 execute the ETH purchase?
According to on-chain analysis from expert @ai_9684xtpa on July 10, ETH whale 0x7c7…1F7e6 bought 1,600.7 ETH at an average price of 2,744 USD, equivalent to 4.39 million USD in the last 5 hours. This is the latest move, reflecting confidence in Ethereum's growth potential.
Previously, this whale traded at a purchase price of 2,502 USD and sold at 2,663 USD, demonstrating the ability to leverage volatility to optimize profits. By analyzing the activities of whales, experts confirm positive trends from large investors, contributing to a more stable ETH market.
Why do ETH whale transactions have a significant impact on the cryptocurrency market?
ETH whales hold a large amount of assets, so their trading decisions often have a strong impact on liquidity and market prices. According to a report from Coinbase 2023, the buying and selling activities of these whales can cause price fluctuations of up to 5-10% in a short period.
The influence of whales on the ETH market is significant, as each large transaction creates a momentum that alters supply and demand in the short term.
Maria Johnson, Director of Cryptocurrency Market Analysis, Coinbase, March 2023
This makes retail investors pay close attention to on-chain transactions to make timely decisions. For example, the recent ETH purchase by whale 0x7c7…1F7e6 has created a positive signal regarding increased demand for the Ethereum cryptocurrency.
What do the profits from previous transactions of ETH whale 0x7c7…1F7e6 indicate about its investment strategy?
The purchase transaction on July 2 and sale on July 9 by this whale yielded approximately 267,000 USD in profit, showing a strategy of buying in low price areas and taking profits appropriately amid market volatility.
"A flexible trading strategy allows whales to take advantage of price volatility, maximizing profits in the context of a highly volatile cryptocurrency market."
Dr. Le Quang Huy, Cryptocurrency Financial Analysis Expert, National Economics University, July 2024
Analyzing on-chain data allows investors to predict the trading trends of whales, thereby making more accurate investment decisions, reducing risks, and increasing profit opportunities.
Specific example of the impact of ETH whale transactions on market price
Date ETH bought/sold Amount Average Price (USD) Value (million USD) Impact on Market Price 07/02/2024 Buy 1,500 ETH 2,502 3.753 Helps stabilize ETH price 07/09/2024 Sell 1,500 ETH 2,663 3.995 Boosts liquidity, slight price drop 07/10/2024 Buy 1,600.7 ETH 2,744 4.39 Increases demand, ETH price rebounds
Frequently Asked Questions
What is an ETH whale and why are they important? ETH whales are investors who own a large amount of ETH, greatly impacting supply, demand, and the market price of the Ethereum cryptocurrency. How to track ETH whale transactions? By analyzing on-chain data and using tools to track large wallet transactions, investors can update the activities of whales. Do whale transactions cause price volatility? Yes, large transactions often have a strong impact on ETH prices in the short term, creating notable market fluctuations. What is the trading strategy of ETH whales? Whales often buy when prices are low and sell when prices rise, generating profits through technical analysis and on-chain signals. How can retail investors leverage whale transaction information? Investors can refer to on-chain data to forecast the market, thereby developing appropriate investment strategies and minimizing risks.
Source: https://tintucbitcoin.com/ca-voi-mua-1-600-eth-gia-trieu-usd/
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