Ethereum

2024

PEPE

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On-chain data reveals that a whale has increased their Eehereum holdings with a substantial purchase. 
According to Lookonchain, the whale, who already held millions of dollars worth of Ethereum (<a rel="" href="https://crypto.news/price/ethereum/">ETH</a>) accumulated over recent months, made a 1,800 ETH purchase valued at $7 million. This acquisition occurred as the price of Ether hovered near $3,900. 
Lookonchain shared the whale’s transaction via a <a href="https://x.com/lookonchain/status/1866162928371847622" target="_blank" rel="nofollow">post</a> on X. 
This whale has been actively accumulating Ethereum since May 24, amassing 39,600 ETH in total over several months. With the recent addition, the total investment value has reached approximately $99 million, bringing the whale’s average purchase price to $2,487 per coin. 
 Read more: <a rel="" href="https://crypto.news/ethereum-reached-4k-as-retail-accumulation-strengthens/"> Ethereum reached $4k as retail accumulation strengthens </a> 
The whale’s bullish view on the altcoin saw them acquire over 6,800 ETH in four transactions in the past four months. Overall, the acquisitions currently put their unrealized profit at $54 million. 
Something noteworthy about this whale is that they held as <a rel="" href="https://crypto.news/bitcoin-ethereum-whales-accumulate-despite-market-wide-selloff/">some took a bearish view</a> with huge net inflows in September. As Ether price fell to lows of $2,200, data from IntoTheBlock showed whales sent more than <a href="https://crypto.news/ethereum-whales-panic-493m-eth-entered-exchanges-in-7-days/" target="_blank">$493 million in a week</a>. 
Ethereum has since witnessed a recovery to above $4,067 as bulls took control following Trump’s win. 
Analysts at Singapore-based QCP Capital say Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) and ETH are both at key levels despite the profit-taking deals at the critical $100K and $4k respectively. Options data for the 27 Dec. 2024 expiry indicates levels that “align with the highest open interest,” the analysts <a rel="nofollow" href="https://x.com/QCPgroup/status/1866062704609575387" target="_blank">wrote</a>. 
Pointing to a potential squeeze higher, QCP analysts noted: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “History says ETH hits new highs in January post-halving. Options markets agree, where #ETH risk reversals favor calls starting in January.” 
</blockquote> 
 You might also like: <a rel="" href="https://crypto.news/pepe-continues-its-rally-despite-whale-selloff/"> PEPE continues its rally despite whale selloff </a>

Whale doubles down on ETH with $7m buy

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