Per the Lookonchain outlook, another whale, “0x9314” also spent 7.29 million USDT to buy 2,800 ETH today, joining the host of accumulations of the second-largest cryptocurrency about two hours ago. This particular whale has a more robust portfolio, having stacked up a total of 82,780 ETH worth approximately $150.3 million at an average price of $1,816 since Jan 1, 2023.
The intriguing switch to Ethereum by these whales complements the $8.2 billion in large transaction volumes according to data from IntoTheBlock. These large transactions, which involve ETH worth at least $100,000, have jumped by 65.99% in the past 24 hours.
Ethereum’s whales are notably helping to change the game as the digital currency strives to recoup its lost ground to price action.
This approval is boosting sentiment that the spot Ethereum ETF might also be on the way. This has further pushed retail sentiment as well, with Ethereum now notably eyeing the $2,700 benchmark.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
