Whale Purchases
Major crypto investors, known as whales, have been actively buying Ethereum (ETH) recently. According to the crypto tracker Lookonchain, several large withdrawals of ETH from Binance have occurred in the past few days.
Significant Transactions
- A whale wallet, possibly belonging to Tron founder Justin Sun, withdrew 4,666 ETH ($14.91 million) from Binance on Monday.
- A new whale wallet withdrew 7,182 ETH ($23.06 million) from Binance on the same day.
- A third whale wallet withdrew 11,892 ETH ($37.77 million) from Binance over the weekend and deposited it into Compound, a lending platform, to borrow USDT.
- A fourth wallet withdrew 5,181 ETH ($16.28 million) from Binance and staked it into Bedrock and Pendle, non-custodial liquid restaking protocols.
Market Impact
These large purchases indicate that whales may be turning bullish on Ethereum. The price of ETH has risen over 4% in the past week, although it remains down nearly 7% in the past month.
Disclaimer:
This article does not constitute investment advice. Investors should conduct their own research before making any financial decisions./p>
