Ethereum whales have accumulated an additional 19,550 ETH, raising their total holdings through FalconX to 122,000 ETH with outstanding profits.
According to the latest on-chain data, an Ethereum whale has actively been accumulating ETH since July 12 at an average price of about $3,213/ETH, currently yielding outstanding profits of over $41 million.
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ETH whales continue to accumulate an additional 19,550 ETH in just the last 10 hours through the FalconX platform.
The total amount of ETH accumulated since July 12 has reached 122,000 ETH, equivalent to $435 million.
The whale's current outstanding profit amounts to $41.34 million based on the average purchase price.
How are Ethereum whales accumulating ETH through FalconX?
According to on-chain expert Yu Jin's analysis, the whale has been steadily purchasing ETH through FalconX since July 12, accumulating a total of 122,000 ETH at an average price of about $3,213 per ETH.
This shows strong confidence in Ethereum's long-term growth potential. FalconX data indicates that whales not only buy but also maintain large amounts of ETH in their wallets while seizing market opportunities to achieve significant profits, reaching over $41 million.
"The concentration of large ETH accumulation shows that whales are betting on Ethereum's long-term recovery, indicating a positive trend in the cryptocurrency market."
Yu Jin, on-chain analyst, July 2024
What are the profits and impacts of this accumulation move on the ETH market?
The fact that whales maintain 122,000 ETH at an average price of $3,213, while enjoying outstanding profits of $41.34 million, indicates reduced supply pressure of ETH in the market. This could stimulate the upward price momentum of Ethereum, according to the law of supply and demand.
Whales play a crucial role in shaping trends, as large holdings significantly affect liquidity. Price volatility, if it occurs, is often closely related to the actions of these influential wallets.
"This large-scale accumulation of ETH is a signal that capital is preparing to scale up investments in high-quality cryptocurrency assets."
James Clarke, CEO of a cryptocurrency investment fund, 6/2024
How to track the accumulation activities of Ethereum whales?
Monitoring on-chain data is considered an effective method to observe the buying and accumulating activities of ETH whales. Experts, traders, and investors use tools like FalconX to analyze cash flow and the trading behavior of large wallets on the Ethereum Blockchain.
Capturing this information helps predict market trends and make accurate investment decisions. Reports from experts like Yu Jin further contribute to transparency in the cryptocurrency community.
Should we follow the accumulation strategy of Ethereum whales?
Financial experts warn that large accumulation strategies need to carefully consider market risks and personal investment goals. While whales have financial potential and extensive knowledge, retail investors need to diversify their portfolios and further analyze fundamental and technical data.
Learning from whale behavior remains valuable in guiding long-term strategies and observing market trends in Ethereum.
Frequently Asked Questions
Who are Ethereum whales and why are they important?
Ethereum whales are investors holding large amounts of ETH; they influence liquidity and market prices due to their ability to manipulate supply and demand.
Why is accumulating 122,000 ETH noteworthy?
This large volume affects the supply of ETH in the market, potentially stimulating price volatility and long-term upward trends.
What is FalconX and its role in tracking ETH whales?
FalconX is a deep cryptocurrency trading and analysis platform that helps track the buying and accumulating activities of ETH whales.
What is the basis for the whale's profit of $41 million?
Profit is calculated based on an average purchase price of ETH at $3,213 compared to the current price, indicating the effectiveness of long-term holding investments.
What can newcomers learn from this accumulation strategy?
This strategy emphasizes the importance of long-term investment, market research, and risk management in cryptocurrency.
Source: https://tintucbitcoin.com/ca-voi-ethereum-gom-them-19-550-eth/
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