Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12785
Markets: 99648
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12785
Cryptocurrencies
60.31%
Bitcoin Share
CoinGape 2025-02-03 10:37:42

Ethereum Whale Buys $14.5M ETH In Recent Market Dip; Price Recovery Imminent?

Ethereum Whale Buys $14.5M ETH In Recent Market Dip; Price Recovery Imminent?

The crypto market is experiencing a downward push, with its market cap down by 7.6%, currently at $3.12 trillion. Top altcoins including ETH are crashing, aligning with broader market trends. Meanwhile, a savvy Ethereum whale has taken advantage of the current market dip, investing millions in ETH in a strategic “buy the dip” move. Ethereum Whale Utilizes Buy The Dip Strategy According to a recent X post shared by on-chain analytics platform Lookonchain, an Ethereum whale called “7 Siblings” acquired 5,382 ETH, worth $14.5 million. The giant ETH whale purchased a total of 50,429 ETH, equivalent to $126M within a single day. In a post shared earlier today, Lookonchain revealed 7 Sibling’s massive purchase of 45,047 ETH, worth $111.72 million. The purchase was marked at an average price of 2,480 per coin. Whale Targets Market Crash: More Buys Ahead? Notably, the last major purchase of $ETH by the 7 Siblings occurred on August 6, 2024. The whale bought them at the bottom of the market following a crash. Thus, it is speculated that the Ethereum whale is utilizing the “buy the dip” strategy. The Ethereum price still lingering near its multi-month low of $2,500. So, there’s a possibility for the 7 Siblings to continue accumulating more ETH. Analysts like Mister Crypto state that “this is the worst time to be bearish on Ethereum.” Thus, the community is less optimistic about an imminent rebound. Coinciding with 7 Siblings’ buy-the-dip move many Ethereum whales and ETH holders have been utilizing the market crash. This is evident from the 264% rise in the daily trading volume, which is currently marked at $84.96 billion. It’s noteworthy that the 7 Siblings’ ETH purchase came after another Ethereum whale made substantial profits by short-selling ETH with 50x leverage . Ethereum Crashes to Multi-Month Lows As of press time, Ethereum price is at a price of $2,577.76, with a notable decline of 17% over the last 24 hours. While the token experienced a plummet of 16% in a week, ETH faced a massive dip of 28% in a month. Commenting on the downward trend of Ethereum, Bitcoin enthusiast Justin Bechler stated that the cryptocurrency is dying. Another prominent analyst known on X as Crypto_Twittier explained the prevailing “huge buying opportunity,” as Ethereum dropped to a multi-year support level. However, the analyst confirmed that the altcoin could retest the support in the coming weeks. The post Ethereum Whale Buys $14.5M ETH In Recent Market Dip; Price Recovery Imminent? appeared first on CoinGape .

Most Read News



Cryptohopper
Market Cap
24h Vol
60.31%
Bitcoin Share
538
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.