ETH was up 2.64% in last 24 hours to trade at $1,840
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The intent was to buy more ETH, according to Lookonchain. In achieving this, the whale deposited 31.8 million USDT to Binance and withdrew 8,698 ETH worth $15.94 million. The imbalance in both transactions could imply that the whale bought other assets or engaged in other activities.Depositing assets on an exchange frequently implies a willingness to sell, as was the case with the whale's USDT deposit. The withdrawal of ETH suggests a willingness to accumulate.
In the world of cryptocurrencies, large holders, often referred to as"whales," can have a significant impact on the market. At the time of writing, ETH was responding to the massive whale buy with a 2.64% spike in the last 24 hours to trade at $1,840 at press time.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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