"Whales Accumulate ₩500 Billion Worth of Ethereum in a Day… ETH Price Remains Unchanged"
Summary
- It was reported that ETH whales began a large-scale accumulation worth approximately ₩503 billion.
- Despite whale accumulation, market prices have shown no distinct response.
- Some analysts predict that continued whale accumulation could have a significant impact on the ETH price.
Although Ethereum (ETH) whales have engaged in large-scale accumulation, market prices have reportedly shown little reaction.
According to AMBCrypto, a digital asset (cryptocurrency) media outlet, three whale wallets purchased approximately $364.36 million (about ₩503 billion) worth of ETH in the past 24 hours. Among these, it is reported that one wallet address is associated with Consensys, an Ethereum development company.
Some interpret this whale accumulation as potentially sparking short-term rebound expectations. On the other hand, overall whale trading volume across the market is actually declining, and there is also analysis suggesting that individual investor buying is becoming more pronounced.
The outlet stated, "There have not yet been clear reversal signals for a rebound in the market," but also projected, "If some whale accumulation continues, it could have a significant impact on the future price of ETH."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin drops intraday to the $72,000 level… debate over 'safe-haven credibility' reignited](https://media.bloomingbit.io/PROD/news/e3aeb7f7-851b-4479-bfd0-77d83a3b7583.webp?w=250)
