Two cryptocurrency whales purchased a total of 25,764 ETH in one day, with transaction values amounting to tens of millions of USD.
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Two cryptocurrency whales have purchased a total of 25,764 ETH within 18 hours.
Whale 0xF436 withdrew 17,655 ETH from the exchange worth approximately 72.7 million USD.
Whale 0x3684 bought 8,109 ETH at a price of 4,193 USD/ETH, totaling 34 million USDT.
What transactions have the two whales made and what is their scale?
Data from Lookonchain published on August 9 shows that two large whales traded a total of 25,764 ETH within 18 hours. Among them, whale 0xF436 withdrew 17,655 ETH from exchanges, equivalent to 72.7 million USD at current prices.
This move indicates a trend of capital shifting from exchanges to off-chain storage, possibly for asset security or long-term investment purposes. Meanwhile, whale 0x3684 used 34 million USDT to purchase 8,109 ETH at a price of 4,193 USD/ETH, showing positive expectations for Ethereum's price potential.
What does withdrawing ETH from exchanges by whales mean for the market?
Withdrawing large volumes of ETH from exchanges reflects a downward trend in circulating supply in the spot market. This can reduce selling pressure and increase the potential for price appreciation due to reduced liquidity on exchanges.
Typically, when whales transfer assets to personal or cold wallets, the purpose is to reinforce asset security, mitigate risks from exchange volatility, or prepare for long-term staking or DeFi activities.
"The withdrawal of tens of thousands of ETH by whales shows that they forecast a positive trend and prioritize holding assets in the market long-term."
Quoted from blockchain analyst, Lookonchain, 8/2024
What does the move to buy 8,109 ETH with 34 million USDT indicate?
Whale 0x3684 spending 34 million USDT to buy 8,109 ETH at a price of 4,193 USD/ETH indicates their confidence in the long-term recovery and growth potential of Ethereum. This is a positive signal for investors when whales make large purchases at high prices.
Market analysis shows that large transactions like this often lead to increased liquidity trends and interest from retail investors. It also reflects expectations for upcoming upgrades or positive events on the Ethereum network.
How do these pieces of information affect the investment strategy of individual investors?
Large-scale transactions from whales with actions of withdrawing and buying ETH can be seen as warning signs for individual investors about the upcoming market volatility. Investors should closely monitor on-chain cash flow to make informed decisions about holding or increasing their positions.
Moreover, withdrawing ETH from exchanges is a warning to reduce the risk of liquidation when the market is highly volatile, while large purchases indicate long-term growth opportunities related to network updates or Ethereum protocol upgrades.
Frequently Asked Questions
1. How much do Ethereum whales usually buy and sell?
Ethereum whales can trade from thousands to tens of thousands of ETH at a time, depending on their investment strategy and the market.
2. How does withdrawing ETH from exchanges affect the price?
Withdrawing ETH from exchanges reduces the circulating supply in the spot market, often driving prices up due to decreased liquidity.
3. What can the large purchase of ETH at 4,193 USD indicate?
This indicates confidence in growth and the positive factors upcoming for Ethereum.
4. What should individual investors do when whales are actively trading?
It is advisable to closely monitor on-chain developments, assess cash flow, and consider adjusting the portfolio to optimize risks and opportunities.
5. Do large transactions guarantee an upward price trend?
Not entirely, but it is often a positive sign; investors need to combine multiple analysis factors.
Source: https://tintucbitcoin.com/ethereum-hai-ca-voi-gom-25-000-eth/
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