Crypto News – In tandem with the market’s general upswing, ETH has been soaring, rising around 20% over the past week. The altcoin‘s price gain, which has been supported by massive accumulation by whale entities, has seen a notable surge, surpassing $3,000.
Anonymous Ethereum Whale Accumulated Over $150 Million
According to reports, blockchain analytics platform Spot On Chain discovered an Ethereum whale that made large purchases quickly. Using 1inch to convert 60 million USDT into 21,353 ETH and withdrawing 10,649 ETH worth $30 million from Binance, the whale first amassed 32,002 ETH over the weekend, valued at $90 million.
Soon after, the whale purchased an additional 22,719 ETH ($65.7 million). In addition, the whale withdrew 19,226 ETH, or more than $55 million, from Binance and exchanged 10.1 million USDT for 3,493 ETH using 1inch. Through Binance and 1inch, the entity collected 54,721 ETH in total, worth $155.7 million, in a single day. Ethereum’s price broke $2,900 at the same time as this quick accumulation, which was a big step forward in the cryptocurrency’s recent upward trajectory.
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