Ethereum

2024

Bitcoin

As the cryptocurrency market continues on its upward path, Bitcoin surpassed $50,000 last night. While this increase in BTC also stimulated altcoins, the largest altcoin Ethereum increased by 8% in the last 24 hours.
Whales continue to accumulate Ethereum as ETH approaches $2,700.
According to Lookonchain's post, a whale bought ETH by borrowing money. The whale, which has been purchasing ETH from various exchanges since February, purchased 39.9 thousand Ethereum at an average price of $ 2,492.
<blockquote>
 “A whale is accumulating ETH! The whale takes a loan from Spark and opens a long position in ETH.
 Since February 1, Whale has purchased 39.9 thousand ETH (worth $99.5 million) from the Binance, Bybit, OKEx and Bitfinex exchanges at an average price of $2,492.
 He then borrowed 56.8 million DAI from Spark using these ETHs.”
</blockquote>
The whale DAI, which expects a rise in Ethereum, takes a long position in ETH by borrowing money. At this point, the whale is betting that the ETH price will increase more than the loan interest rate it will pay on the DAIs it borrowed and that the collateral value will not fall below the liquidation threshold.
Ethereum continues to trade at $2,682 at the time of writing.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A whale is accumulating <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> and going long <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> by revolving loans on <a href="https://twitter.com/hashtag/Spark?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Spark</a>!
 The whale has withdrawn 39.9K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($99.5M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a>, <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bybit</a>, <a href="https://twitter.com/hashtag/OKEx?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#OKEx</a> and <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitfinex</a> since Feb 1 at an average price of $2,492, and borrowed 56.8M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DAI</a> from <a href="https://twitter.com/hashtag/Spark?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Spark</a>.<a href="https://t.co/9EQSrwHnJD" rel="noopener noreferrer nofollow">https://t.co/9EQSrwHnJD</a> <a href="https://t.co/6CydURt2pc" rel="noopener noreferrer nofollow">pic.twitter.com/6CydURt2pc</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1757317844436660226?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/preparation-for-the-bull-continues-giant-whale-is-collecting-all-his-money-from-this-altcoin/" rel="noopener noreferrer nofollow">Preparation for the Bull continues: "Giant Whale is collecting all his money from this altcoin!"</a>

Preparation for the Bull continues: "Giant Whale is collecting all his money from this altcoin!"

Bitcoin Sistemi EN

Other articles published on Feb 13, 2024

Beam: 2M Transactions, 1.53M Blocks, 653K+ Addresses

XRP Whales Make Notable Moves in the Market

Jupiter’s JWGs ignites JUP price surge; Bitcoin Dogs gears up for first BRC20 ICO

Which of These Will Be the Next Dogecoin? Unveiling the Meme Coins That Could Skyrocket

Bitcoin Price Soars as ETF Inflows Hit Record Highs: $55k by Weekend?

SUI hits new ATH following blockchain academy collaboration

Join our free newsletter for daily crypto updates!