Recent price declines didn’t stop whales from increasing their holdings.
Lookonchain statistics show that one wallet in the three-day streak of accumulation received 25,213 Ethereum (ETHIn the early morning hours of July 22nd, 20225, FalconX purchased a ) worth $94.67 millions (from FalconX). Its total holdings now stand at 72,333 ETH valued at approximately $267 million.
Another newly created wallet, which had also withdrawn 5,309 ($19.96) ETH from Binance at the time, increased its total holdings of 19,391 (ETH), worth $72.38 millions.
It’s not only newcomers who are making their mark. Recently, a long-dormant, inactive whale was reactivated. resurfaced It’s time to get on board. This wallet bought over 34,033 Ether in minutes at a cost of $128.68 Million, indicating renewed interest in the asset.
This momentum is also driven by institutional demand. Asset Manager BlackRock Over the last week, approximately $1.76 Billion has been spent on ETH. according Arkham Intelligence. Earlier this morning, Arkham Intelligence purchased 27,158 ETH worth approximately $100 million.
BlackRock has accumulated Ethereum ETFs as the demand continues to rise, and inflows continue. hitting record levels Since their conception,
But not all are buying. Lookonchain shows that large investors are taking profit. A whale was tracked recently. sold 8 005 ETH for $3.751 or $30.03 Million. Two weeks ago, this wallet bought 9,582 Ethereum for $26.11 Million at $2,725, making a profit of $9.87M.
The selling pressure is likely to be responsible for today’s drop, as Ethereum fell to an intraday minimum of $3.620, before rebounding back to $3.649. ETH has fallen about 3.1% over the last 24 hours, and is 5.2% lower than this week’s highest price of $3850.
Despite a slight pullback in ETH, the price is still higher than the previous week by 23% and 62.3% compared to the same period last month. The market remains optimistic for ETH’s future.
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Source: crypto.news
