A massive cryptocurrency investor, known as a whale, has made a comeback in the market to purchase more ETH tokens following a substantial investment. Earlier today, the whale withdrew 7,000 ETH from Binance, which was valued at around $26.7 million at the time. This move comes despite Ethereum currently trading at $3,814.
The whale, who has profited $76.6 million from ETH, has reemerged to accumulate more tokens. Just an hour ago, the whale withdrew 7,000 ETH, equivalent to $26.7 million, from Binance at a price of $3,814.
It is worth noting that during the bear market last year, the whale withdrew a significant amount of ETH and deposited it into a centralized exchange (CEX) whenever the price of Ethereum surged.
Currently, the whale holds 36,785 ETH, which is approximately valued at $141 million. The estimated gross profit from trading this token amounts to $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 actions serve as a significant development that may spark further interest in Ethereum among other traders and investors.
The return of whales like this one reflects a positive outlook for the cryptocurrency. Numerous industry events and changes support this belief, including the upcoming release of Ethereum 2.0 and the increasing popularity of decentralized finance (DeFi). The significance of this whale’s return lies in their previous contributions to the industry and their decision to resume large transactions. By holding such a substantial number of coins, these whales demonstrate their unwavering confidence in the asset’s growth potential. Overall, their actions serve as a testament to the overall growth prospects of Ethereum in the near future.
Tags: ETH