Tuesday, June 10, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Ethereum Crash A Buying Opportunity? This Whale Thinks So

August 4, 2024
in Bitcoin
Reading Time: 3 mins read
0 0
A A
0
Home Bitcoin
Share on FacebookShare on TwitterShare on E Mail


Latest value actions within the cryptocurrency market have seen Ethereum expertise a major downturn, with the altcoin lastly sustaining a break beneath the important $3,000 assist stage. Ethereum has suffered a notable 4.76% decline over the previous 24 hours, bringing its present buying and selling value to only above $2,900. 

Associated Studying

Whereas retail merchants are nonetheless scrambling for his or her subsequent transfer, on-chain knowledge reveals an fascinating accumulation sample of ETH by a selected whale entity. This whale, whose strategic strikes have traditionally demonstrated a powerful 100% funding win charge, has been steadily growing their holdings of ETH for the previous two months.

Whale Sees Crash As Shopping for Alternative

In accordance with on-chain knowledge famous by Lookonchain on social media platform X, a sensible cash whale has been making the most of the current ETH value fall so as to add to its holdings. As revealed by the on-chain tracker, this whale not too long ago purchased one other 2,424 ETH value $7.22 on the time of buy. This newest acquisition brings the whale’s complete purchases to 19,436 ETH value $68.25 million at a mean of $3,511 per ETH since Could 29. On the time of writing, the sensible cash whale is sitting on virtually $8 million in unrealized losses.

At first look, this aggressive shopping for method would possibly seem dangerous, particularly given the prevailing bearish sentiment surrounding Ethereum. Nonetheless, historical past suggests they could really know what they’re doing higher than most. This explicit whale boasts a flawless observe document with a 100% win charge since November 2022 and appears to know when precisely to purchase and promote Ethereum. 

Ethereum is now buying and selling at $2902. Chart: TradingView

Notably, this sensible cash whale has been shopping for Ethereum at low factors and promoting at increased costs between Nov 21, 2022, and Could 23, 2024, with a complete revenue of greater than $38 million. The whale’s current purchases, regardless of the continued market downturn, recommend a stage of confidence and perception that has confirmed correct prior to now.

A wise cash with a 100% win charge purchased 4,000 $ETH($12.58M) once more 5 hours in the past!

This sensible cash purchased and bought $ETH 7 instances from Nov 21, 2022 and Could 23, 2024, shopping for at low costs and promoting at excessive costs every time, with a 100% win charge and a complete revenue of greater than… pic.twitter.com/3fnCkyfmQT

— Lookonchain (@lookonchain) August 2, 2024

What’s Subsequent For Ethereum?

As of the time of writing, Ethereum is buying and selling at $2,900, marking a major decline of 12% over the previous seven days. This sharp downturn has triggered substantial liquidations available in the market. In accordance with knowledge from Coinglass, $78.72 million value of ETH lengthy positions had been liquidated prior to now 24 hours alone. 

Associated Studying

Whereas the crypto’s drop beneath $3,000 is worrisome for buyers, bullish hope won’t be misplaced but. The $3,000 value level is a important assist stage backed by substantial on-chain exercise. Knowledge signifies that over 1.7 million addresses acquired Ethereum slightly below this stage, highlighting a sturdy space of shopping for curiosity. This implies $3,000 remains to be a robust assist stage for ETH, which could stop additional losses within the coming week.

Featured picture from CNBC, chart from TradingView





Source link

Tags: BuyingCrashEthereumOpportunityThinksWhale
Previous Post

Crypto-Friendly Mercado Libre Becomes Latam’s Largest Company

Next Post

Nemesis – Metaverse to Explore

Related Posts

Solana Breakout Targets $164 – Is A Recovery Around The Corner?
Bitcoin

Solana Breakout Targets $164 – Is A Recovery Around The Corner?

June 10, 2025
Belgravia Hartford Capital Makes First Bitcoin Purchase in New Treasury Strategy
Bitcoin

Belgravia Hartford Capital Makes First Bitcoin Purchase in New Treasury Strategy

June 10, 2025
XRP Price Could Surge To $15 As Crypto Analyst Predicts ‘XRP Summer’
Bitcoin

XRP Price Could Surge To $15 As Crypto Analyst Predicts ‘XRP Summer’

June 9, 2025
KULR Technology Group Announces $300 Million ATM Offering To Invest In Their Bitcoin Treasury
Bitcoin

KULR Technology Group Announces $300 Million ATM Offering To Invest In Their Bitcoin Treasury

June 9, 2025
$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP Lawyer Drops Bombshell
Bitcoin

$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP Lawyer Drops Bombshell

June 9, 2025
Tokenisation Catapults Dubai’s Real Estate Market to $18B in May 2025
Bitcoin

Tokenisation Catapults Dubai’s Real Estate Market to $18B in May 2025

June 10, 2025
Next Post

Nemesis - Metaverse to Explore

Grayscale ETH ETF Outflows Hit $2 Billion As Ethereum Price Struggles Below $3,000

Grayscale ETH ETF Outflows Hit $2 Billion As Ethereum Price Struggles Below $3,000

how the National Gallery collection will be redisplayed

how the National Gallery collection will be redisplayed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In