A massive cryptocurrency holder, known as a whale, has reentered the market to purchase more ETH tokens after a substantial investment. Earlier today, the whale sent 7,000 ETH, equivalent to around $26.7 million USD at the time, back to Binance. This comes despite Ethereum’s current trading value of $3,814.
The resurgence of this whale, who has profited $76.6 million from ETH, has caught the attention of the market. In the previous year’s bear market, the whale withdrew a significant amount of ETH and consistently redeposited it into the CEX whenever the price of Ethereum surged.
Currently, the whale holds a staggering 36,785 ETH, valued at approximately $141 million. With an estimated gross profit of $76,606,250 and a growth rate of 57.9% in relation to trades on this token, the whale’s bullish stance on Ethereum is evident. They actively acquire assets in anticipation of future growth. This significant move may inspire other traders and investors to take a closer look at Ethereum.
The return of whales like this one reflects a positive outlook for the cryptocurrency. The industry is experiencing various events and changes that highlight its potential for development. The impending release of Ethereum 2.0 and the increasing popularity of DeFi contribute to the currency’s growth.
The significance of this event is further emphasized by the whale’s previous contributions to the industry. Their decision to resume significant transactions indicates unwavering faith in the asset’s growth potential. These actions serve as evidence of overall confidence in Ethereum’s future growth.
Tags: ETH
