Ethereum has made a notable recovery, surpassing the $3,600 mark today, driven by reports of whales accumulating ETH tokens.
According to Lookonchain data, significant withdrawals from the exchange have been observed, indicating whale activity.
One such example is wallet address 0xACc7, which is suspected to be associated with Matrixport. Matrixport withdrew 22,251 ETH ($80.06 million) from the exchange in the past few hours, for a total of 33,925 ETH ($122.06 million) in the past three days.
whales are gathering $ETH!
0xACc7 (probably #matrixport) Withdrawal 22,251 $ETH($80.06 million) was traded and $33,925 was withdrawn from the exchange in the last hour $ETH($122.06 million) from exchanges in the last 3 days https://t.co/R43ImnYb5H
Whale “0x4359” 3,092 was withdrawn $ETH(from $11.12 million) #Binance… pic.twitter.com/g3inogSVel
— Lookonchain (@lookonchain) April 11, 2024
Another whale, identified as “0x4359,” withdrew 3,092 ETH ($11.12 million) from Binance again after withdrawing 24,044 ETH ($86.5 million) from the exchange in the past three days.
More notable Ethereum whale deposits on exchanges
Spotonchain leak report reveals large deposits by a large ETH whale with wallet address 0x347, which deposited 9,000 ETH ($32 million) to Binance at a price of $3,560 to make a profit did. Notably, this deposit marks the largest ETH deposit by this whale to date.
Large scale $ETH Whale 0x347 9,000 deposited $ETH (from $32 million) #Binance Thirty minutes ago, it was profitable at $3,560.
Remarkably, this is the largest of the whales $ETH Deposits to date.
Currently, there are still 29,738 whales left. $ETH (approximately $106 million), with an estimated gross profit of $68.5 million (+65%)!
to follow… pic.twitter.com/SdTaPdtLdM
— Spotonchain (@spotonchain) April 11, 2024
Despite these withdrawals and deposits, whale 0x347 still holds 29,738 ETH (approximately $106 million), with an estimated total profit of $68.5 million, representing a staggering 65% increase. Masu.
The activity of these whales is indicative of bullish sentiment surrounding Ethereum as they are accumulating large amounts of cryptocurrency.
This accumulation, combined with the recovery in Ethereum prices, reflects growing confidence in the asset that further gains are possible in the near future.
Ethereum’s performance remains a key focus in the crypto market as investors and traders closely monitor whale activity.
Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.
Follow me on Twitter @themerklehash Stay up to date with the latest crypto, NFT, AI, cybersecurity, and metaverse news.
Image source: nexusplexus/123RF // By image effect color cinch
