Ethereum Whales on Buying Spree As Crypto Market Pulls Back

Ethereum whales have accumulated over $350 million in ETH during the recent market downturn amidst uncertain macro conditions. On-chain data indicates that institutional investors are making significant purchases, suggesting a strategic buying opportunity. A recently created wallet bought 10,000 ETH worth approximately $34 million, followed by another purchase of the same amount, totaling $70 million. Another whale acquired 24,007 ETH for over $82 million through an OTC desk. This high level of buying activity comes as the price of Ethereum stabilizes, indicating that large investors are positioning themselves for potential medium-term recovery despite current volatility. Experts note a shift in behavior, with whales increasing their holdings significantly while retail investors tend to sell off. The positive market response, with ETH recovering roughly 10% from recent lows, further supports the notion of institutional accumulation played against a backdrop of macroeconomic uncertainty. Current trading price for ETH is around $3,533, reflecting the interest of big players in this asset class for longer-term gains.

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