Bitmain reportedly bought 128,718 ETH immediately after the plunge…about $480 million
Suehyeon Lee
Summary
- It was reported that Bitmain was observed buying a total of 128,718 ETH immediately after the recent market plunge.
- The purchase size amounts to about $480 million.
- The market interprets this as Bitmain's 'buy the dip' strategy.
Bitmain reportedly bought a total of 128,718 Ethereum (ETH) immediately after the recent market plunge.
On the 12th (local time), according to LookonChain, six newly created wallets withdrew a total of 128,718 ETH from FalconX and Kraken. Those addresses are all presumed to be Bitmain-related wallets, and the accumulation amounts to about $480 million (about 670 billion won).
The market views this move as Bitmain's 'buy the dip' strategy. So far, Bitmain holds about 2,830,000 ETH (about $10.9 billion).
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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