$ETH While Ethereum Price Plummets, Giant Whale Goes Crazy Accumulating ETH: Over 100 Million!

As the price of Ethereum (ETH) drops, causing panic among investors, a giant whale caught the market's attention by purchasing approximately $127 million worth of ETH.

The cryptocurrency market experienced a sharp decline due to tensions between Israel and Iran, and the price of Ethereum (ETH) also suffered significant losses. During this process, many investors sold in panic, while a whale that had previously made about $30 million in profit from Ethereum transactions acted in the opposite direction by making large purchases of ETH.

According to data shared by Lookonchain, in the last 8 hours, this whale purchased a total of 48,825 ETH through Coinbase and Wintermute. The total value of this massive purchase, made at an average price of $2,605, amounts to approximately $127 million.

The whale's latest major move

This same whale had previously made headlines with successful transactions. Two weeks ago, the whale bought 30,000 ETH over-the-counter (OTC) and sold these ETH for a profit of about $7.3 million after the rise in Ethereum's price. With this new purchase, it is possible to see that the whale has taken a position again while the market is falling.

Experts emphasize that such large and strategic moves can indicate strong support levels in the market, and investors following the whale's movements should closely monitor these developments. It is noted that such large transactions are critically important for Ethereum's short-term performance.