A massive cryptocurrency holder, known as a whale, has made a comeback in the market to purchase more ETH tokens after a substantial investment. Just recently, this whale transferred 7,000 ETH, which was valued at around $26.7 million at the time, back to Binance. This move comes despite Ethereum currently trading at $3,814.
A giant whale, who has made a staggering $76.6 million profit from ETH, has returned to accumulate more tokens! Earlier today, the whale withdrew 7,000 ETH, which is equivalent to $26.7 million, from Binance at a price of $3,814.
It is worth noting that this whale withdrew most of their ETH during last year’s bear market and then deposited it into the CEX whenever the price… pic.twitter.com/cjZCM793BV — Spot On Chain (@spotonchain) June 3, 2024
The whale’s holdings of ETH now exceed $141 million, raising eyebrows in the market. This particular whale has been involved in manipulative actions that have been observed in the crypto market. During the bear market last year, the whale started withdrawing a large amount of ETH and depositing it into the CEX whenever the price of Ethereum surged.
Currently, the whale holds 36,785 ETH, which is approximately $141 million. In terms of trades involving this token, the estimated gross profit stands at $76,606,250, with a growth rate of 57.9%. This trend indicates that the whale remains optimistic about Ethereum and actively acquires assets for future growth. The whale’s activity is a significant development that may encourage other traders and investors to take a greater interest in Ethereum.
The return of whales like this one reflects a positive outlook for the cryptocurrency. Ethereum has a strong potential for development, as evidenced by various events and changes in the industry. The upcoming release of Ethereum 2.0 and the increasing popularity of DeFi are expected to contribute to the currency’s growth.
The significance of this event is further confirmed by the fact that this individual has already made a substantial contribution to the industry and has decided to resume large transactions. The return of whales with such a significant number of coins indicates their unwavering belief in the asset’s growth potential. These actions serve as evidence of the confidence in Ethereum’s overall growth in the near future.