A whale/institution has purchased 18,557 ETH with over 64 million USDT in the past two days, raising total holdings to approximately 38,000 ETH.
According to in-depth on-chain analysis from Yu Jin, this whale not only uses its own capital but also borrows from Aave to continue purchasing Ethereum, demonstrating an active investment strategy and long-term planning in the cryptocurrency market.
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The whale/institution bought 18,557 ETH at an average price of 3,451 USD/ETH over 2 days.
How much ETH have whales purchased recently?
According to monitoring by on-chain expert Yu Jin, a large whale or institution has accumulated 18,557 ETH over the past two days, with an investment amount of approximately 64.04 million USDT, at an average purchase price of 3,451 USD/ETH.
This large volume purchase reflects a positive signal and the confidence of large investors in the growth potential of Ethereum at this time. On-chain data confirms that transactions are transparently conducted on the Blockchain network, ensuring the authenticity of information.
Where does this whale's investment come from?
Whales withdrew a total of 47.28 million USDT from various reputable sources like Cryptocom and Cumberland to conduct on-chain Ethereum purchases. This information indicates thorough capital preparation and the ability to mobilize large amounts to take advantage of market opportunities.
The use of capital combining equity and collateralized ETH borrowing demonstrates a smart investment strategy, leveraging financial resources to expand cryptocurrency asset holdings.
Yu Jin, on-chain analysis expert, 19/07/2024
How do whales use collateralized borrowing to buy more ETH?
After purchasing a large amount of ETH, this whale also collateralized the recently purchased ETH to borrow an additional 16.75 million USDT on the Aave platform. This borrowed amount is used to continue buying more Ethereum, demonstrating effective utilization of assets to enhance investment positions.
Collateralized borrowing on DeFi platforms like Aave allows investors to utilize flexible loan capital without having to sell their underlying assets, while also taking advantage of rapid market opportunities.
"Using ETH as collateral to borrow on DeFi is the optimal way to increase access to financial resources without having to exit holdings."
Nguyễn Văn An, CEO of a cryptocurrency investment fund, 2024
How much ETH is this whale currently holding and what is its equivalent value?
The current total amount of ETH that this whale/institution owns is approximately 38,000 ETH, equivalent to 135 million USD at current market prices. This is a very large position, sufficient to influence supply and demand and price volatility of Ethereum in the market.
Frequently Asked Questions
What is a cryptocurrency whale?
Cryptocurrency whales are individuals or organizations that hold large amounts of cryptocurrency, capable of influencing the market through multi-million dollar transactions.
Why do whales borrow on platforms like Aave?
Whales borrow to leverage financial resources, increasing their ability to purchase more assets without selling their original capital, flexibly taking advantage of market opportunities.
Are on-chain transactions reliable?
On-chain transactions are recorded on a transparent Blockchain, proving authenticity and enabling accurate transaction activity analysis, highly regarded by financial experts.
What impact does whale trading have on retail investors?
Whale trading often creates market trends, and retail investors can learn to adjust their strategies accordingly to avoid significant loss risks.
Does a large amount of ETH like 38,000 ETH affect the price?
When whales buy or sell large amounts of ETH, it can significantly impact supply and demand, causing temporary or long-term price volatility in the market.
Source: https://tintucbitcoin.com/ca-voi-ethereum-gom-18-557-eth/
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