A cryptocurrency whale spent 50 million USDT to buy over 13,400 ETH at an average price of 3,715 USD each.
This transaction was discovered 4 hours ago through the blockchain transaction monitoring tool Lookonchain, indicating a significant movement from whale wallets in the Ethereum market.
MAIN CONTENT
A whale bought 13,462 ETH worth 50 million USDT.
The average purchase price of the transaction is 3,715 USD/ETH.
The transaction was detected via Lookonchain on July 20.
How much Ethereum has a whale bought and what is the average purchase price?
Data from Lookonchain shows that a whale wallet spent 50 million USDT to buy 13,462 ETH, equivalent to an average price of 3,715 USD per ETH.
This large transaction reflects strong interest from major investors in Ethereum, especially as the cryptocurrency market experiences significant volatility. Whales play an important role in influencing price trends in the market.
Information about the source and timing of this transaction discovery?
Lookonchain, a reputable blockchain activity monitoring platform, recorded a transaction on July 20. This information was confirmed through a report from PANews, providing transparent and quick data about activities on the Ethereum network.
Tracking whale transactions helps to capture the direction of large cash flows, supporting investors to forecast market trends more accurately.
Nguyen Van An, CEO of Vietnam Blockchain Network Company, 2024
What is the significance of this large whale transaction for the Ethereum market?
When a whale spends tens of millions of USDT to purchase a large quantity of ETH, it is often a positive sign of confidence in Ethereum's long-term growth. Analysts believe that such moves can create a strong psychological effect that helps the market recover or maintain a bullish trend.
Large buy orders always facilitate a stable bullish market scenario, especially when the average purchase price is within a key support zone.
Hoang Minh Tuan, Cryptocurrency Analyst, 2024
How do transactions from whale wallets affect Ethereum's price?
Whales with significant financial power buying huge amounts of ETH can create a surge in demand, helping ETH's price avoid deep declines and attracting retail investors. Additionally, these transactions draw significant attention from the market and cryptocurrency financial media, enhancing transparency and trust.
Frequently Asked Questions
What are whale transactions?
Whale transactions are large transactions made by investors or institutions that own a massive amount of cryptocurrency assets, affecting the market.
How to track whale transactions?
Blockchain monitoring tools like Lookonchain provide real-time data on large transactions, helping investors quickly grasp market trends.
What does the purchase of 13,462 ETH worth 50 million USDT mean?
This transaction demonstrates confidence in Ethereum's price potential, often creating a positive momentum in the market.
Is an average price of 3,715 USD for ETH an attractive price?
This price level is considered reasonable in the context of the current market volatility, stimulating further trading activities.
Is the data source for monitoring whale transactions reliable?
Tools like Lookonchain use transparent on-chain data that many trusted experts in the cryptocurrency industry rely on.
Source: https://tintucbitcoin.com/ca-voi-chi-50-trieu-usdt-mua-eth/
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