Ethereum

Crash

USDC

A significant market participant, commonly referred to as a “whale,” who was liquidated for 2,890 wrapped staked Ether (wstETH) valued at approximately $8.06 million during the market crash on August 5, has resumed buying Ethereum. 
According to <a href="https://x.com/lookonchain/status/1823260722085937654" rel="nofollow" target="_blank">blockchain</a> data, the whale has borrowed $6.6 million in DAI, $2.7 million in USDT, and $2.5 million in USDC since August 11 to acquire 4,459 Ether (ETH) at an average price of $2,646 per ETH. The total purchase is valued at $11.8 million. 
<img decoding="async" src="https://pbs.twimg.com/media/GU2Fr8ZaIAASZsm?format=jpg&amp;name=large" alt="Image" title="Whale Rebuilds Ethereum Position After $8.06M Liquidation in Market Crash 56"> 
The whale’s address, identified as 0x940df59ba33f3387deff3c2400fecf1286fcce4c, has become active again after the recent liquidation, indicating a renewed long position in Ethereum despite the recent market volatility. 
This activity follows the significant<a href="https://crypto.ro/en/news/bitcoin-price-reached-49k-amidst-global-financial-collapses-wave/"> market downturn earlier in August</a>, which led to widespread liquidations and a sharp decline in cryptocurrency prices. The whale’s decision to re-enter the market with substantial leverage suggests confidence in Ethereum’s potential recovery.

Whale Rebuilds Ethereum Position After $8.06M Liquidation in Market Crash

crypto.ro global

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