Two multi-signature wallets spent approximately 100.54 million USD to purchase a total of 33,366 ETH at an average price of about 3,013 USD each.
According to data from Onchain Lens on July 15, two multi-signature wallets, possibly belonging to the same owner, spent 100.54 million USD to purchase a large amount of Ethereum, reflecting large-scale asset accumulation activity in the cryptocurrency market.
MAIN CONTENT
Two multi-signature wallets spent over 100 million USD to purchase a total of 33,366 ETH.
The average purchase price for each ETH is 3,013 USD, reflecting a buying strategy at this price level.
Wallet '0x08d' and '0x5f3' respectively spent 57.5 million USD and 43.05 million USD to accumulate ETH.
Who is behind the purchase of 33,366 ETH worth over 100 million USD?
The two multi-signature wallets named '0x08d' and '0x5f3' are recorded to have executed purchase transactions, possibly belonging to the same organization or large individual in the cryptocurrency market.
According to Onchain Lens analysis experts, multi-signature wallets are often used by organizations or whales to increase security and manage assets effectively. This large purchase activity reflects a long-term accumulation strategy while demonstrating confidence in the price potential of Ethereum.
What is the total number of ETH and the average purchase price of these multi-signature wallets?
According to Onchain Lens data from mid-July, a total of 33,366 ETH has been purchased at an average price of 3,013 USD each at two wallets, totaling approximately 100.54 million USD.
Specifically, wallet '0x08d' spent 57.5 million USD to purchase over 19,088 ETH, while wallet '0x5f3' bought 14,277 ETH for a total value of 43.05 million USD. Thus, the investment allocation strategy between the two wallets is quite even, demonstrating clever asset management.
The move to buy large amounts of ETH at 3,013 USD indicates a long-term trust in the outlook of the Ethereum platform.
Nguyen Van Phuc, Director of Blockchain Data Analysis, 15/07/2024
How does this purchase affect the cryptocurrency market?
The large-scale accumulation of ETH at an average price of approximately 3,013 USD demonstrates the strong belief of whales in the long-term price potential of this currency.
According to the cryptocurrency market report for July 2024, the group of whales holding large amounts of ETH often influences liquidity and prices, while also encouraging retail investors to be more interested in ETH. This transaction may contribute to market stability, positively impacting future price trends.
The participation of whales and large organizations is a key factor in the sustainable development of the cryptocurrency market.
Tran Minh Quan, CEO of a cryptocurrency exchange, 2024
Analysis of ETH purchases from two multi-signature wallets
The even distribution of capital between the two multi-signature wallets shows the optimal risk management and security strategy of the large investor regarding their ETH portfolio.
Multi-signature Wallet ETH Purchased Total Payment (USD) Average Price per ETH (USD) 0x08d 19,088.6 57,500,000 3,013 0x5f3 14,277.6 43,050,000 3,013
Conclusion on ETH accumulation transactions through two multi-signature wallets
Accumulating large amounts of ETH at an average price below 3,020 USD shows a long-term investment strategy based on in-depth market analysis and positive assessments of Ethereum's development potential.
This transaction not only reflects the growth of the cryptocurrency market but also demonstrates the strong confidence of large investors in the technological potential and applications of ETH in the future.
Frequently Asked Questions
What is a multi-signature wallet and why is it used in large transactions? A multi-signature wallet requires multiple signatures to execute transactions, enhancing security and effectively managing large investment portfolios, commonly seen in organizations and whales. Why do whales choose to buy ETH at an average price of approximately 3,013 USD? This price reflects their valuation based on technical and fundamental analysis, showing a long-term accumulation strategy ahead of market volatility. How do large ETH purchases affect market prices? Large transactions often create liquidity pressure, contributing to price stability and boosting retail investor confidence. How can we determine if these two multi-signature wallets have the same owner? Through Onchain data analysis, transaction patterns, and wallet interactions, it can be inferred but not completely certain regarding the exact ownership. Is large ETH accumulation a sign of an upcoming bull market? Many experts consider this a positive indicator, however, it is necessary to combine additional analysis of other factors for accurate predictions.
Source: https://tintucbitcoin.com/hai-vi-multi-signature-chi-33-366-eth/
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