A massive cryptocurrency holder known as a whale is once again making waves in the market as they seek to acquire more ETH tokens. Just recently, the whale withdrew a staggering 7,000 ETH from Binance, which was equivalent to approximately $26.7 million at the time. This move comes despite Ethereum’s current trading value of $3,814.
This particular whale has gained attention in the crypto market due to their manipulative actions. During last year’s bear market, they strategically withdrew a significant amount of ETH and then redeposited it into the CEX whenever Ethereum’s price surged. As of now, the whale holds an impressive 36,785 ETH, which is worth around $141 million.
In terms of trades involving this token, the estimated gross profit for the whale reaches an astounding $76,606,250, with a growth rate of 57.9%. These figures indicate that the whale remains bullish on Ethereum and continues to actively purchase assets in anticipation of 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. The industry has been witnessing various events and changes that showcase Ethereum’s potential for development. The highly anticipated release of Ethereum 2.0 and the increasing popularity of DeFi are just a few examples of factors that contribute to the currency’s growth.
The significance of this whale’s actions is further emphasized by their past contributions to the industry. Their decision to resume large transactions with such a substantial number of coins demonstrates their unwavering belief in the asset’s growth potential. These actions serve as a testament to the confidence in Ethereum’s overall growth in the foreseeable future.