š Mega Whale Buys Ethereum During Price Drop, What's Happening?
š Arkham Intelligence data shows massive accumulation activity of Ethereum (ETH) by a mega whale, right as the price of ETH is undergoing a correction!
š¹ One whale address is known to have purchased ETH worth US$300 million through OTC trading via Galaxy Digital, Sunday (03/08).
š¹ Now, that address holds 79,461 ETH worth US$282.5 million.
š Data from Dune Analytics also shows a vertical increase in Ethereum ETF holdings rising more than 40% in the last 30 days.
š The group of "mega whales" is defined as entities holding >10,000 ETH. Since early July, they have added >200 ETH to their wallets!
š¦ The majority comes from exchanges, large custodians, and ETFs.#MarketRebound