🐋 Ethereum Whales Show Mixed Behaviour, Will ETH Price Rising Continue? 🚀
Amid the sharp ETH price pump on Friday, Ethereum whales have been showing mixed behavior, with some seeing this as a “sell on rise” opportunity, while others are building fresh positions. On the other hand, after a 20% pump, ETH remains firm, flirting around $2,400 levels.
As per the data from Arkham Intelligence, a major Ethereum Initial Coin Offering (ICO) participant, who acquired 76,000 ETH at Genesis for $23,560—deposited their remaining 1,900 ETH (valued at $4.44 million) to crypto exchange Kraken.
Additionally, Arkham reported that the Ethereum whale, who sold all their Ethereum holdings three months ago at an average price of $2,740, incurred a loss of approximately $11 million on the trade.
However, the investor has re-entered the market with aggressive purchases over the past month.
One month ago, the Ethereum whale returned to the market, purchasing 2,713 ETH for $4.07 million at a price of $1,502 per ETH.
As ETH price surged, the whale doubled their bet, acquiring an additional 9,023 ETH for $20.55 million at $2,277 per ETH.
