As Bitcoin Plummets, Ethereum Whales Splurge $280 Million to Buy the Dip! Some Investors Turn $125,000 into $6.99 Million with 55x Returns

As Bitcoin is caught in a plummet, the Ethereum market is experiencing a "counter-market frenzy" — in the past 24 hours, several super large investors collectively scooped up $279.5 million worth of ETH, wagering real money on its long-term value.

In this buying frenzy, some have created a "wealth myth": one investor, through precise rolling operations, saw their $125,000 principal soar to $6.99 million, achieving a return rate of 55 times, a remarkable feat in a bear market. The actions of these whales are certainly not blind following; from a technical perspective, ETH is currently holding above $4,400, which happens to be a key support level of the 26-day moving average. Previously, multiple downturns to this level have been strongly bought back up, indicating a significant support strength.

More importantly, the fundamentals of Ethereum are solid enough to endorse its anti-dip resilience and upside potential: the Layer 2 ecosystem continues to explode, highlighting trading efficiency and cost advantages; the enthusiasm in the DeFi sector remains high, with the amount of ETH locked in protocols reaching an all-time high, further reducing market circulation; at the same time, institutions are continuously increasing their holdings of Ethereum ETFs, with incremental funds pouring in.

Future benefits are even more promising: Ethereum is about to undergo a network upgrade, which will significantly enhance performance and user experience; the NFT market is showing signs of recovery, and Web3 application scenarios are rapidly expanding, making the entire ecosystem vibrant. Following this trend, ETH breaking $5,000 may just be a matter of time, and this whales' significant buying could very well be a precise anticipation of this outlook.