Ether Whales continues to buy cryptocurrency on drugs, according to Onchain analysts, as ETH is recovering from a weekend.
“Someone bought a ton of ETH,” Blockchain Analytics Firm said Arkham Intelligence on Sunday, with an address that accumulated $ 300 million worth of ether (Eth) from over-the-counter (OTC) trading to Galaxy Digital.
The whale Address Currently holds 79,461 ETH, which costs about $ 282.5 million.
Also loads Blackrock to ETH, along with the Ishhares firm Ethereum The ETF’s confidence to see $ 1.7 billion in the past 10 consecutive days of trading.
Ether onchain holders on the funds that have been exchanged have been vertically over the last month, which has dropped more than 40% in the past 30 days, According to In Dune analytics.
Eth Mega Whales is uploading
The ether “Mega Whale” Address Count has also progressed for the past 30 days, according to Glassnode.
Mega Whale Cohort has been defined by the addresses holding more than 10,000 ETHs, with more than 200 added since the beginning of July.
This Whale address Numbers include exchanges of exchanges, large caregivers and exchange-exchanged products, which are aggressively accumulated.
Eth is recovering
Ether prices cooled over the weekend with a dip below $ 3,400, but showed signs of recovery on Monday by reclaiming $ 3,560.
Related: Ethereum ‘Mega Whales’ is more difficult than pre-95% rally in 2022
“While the flow of cooling in the labor market initially spooked investors, the increased likelihood of financial easing could immediately reverse the sale, offering the crypto of a bullish tailwind as the hope of liquidity,” director of the streaty of the coinw exchange, Monika Mlodzianwska, said cointelegraph.
Ether Bearish in August
Similar to Bitcoin, which has become bearish Eight in the past 12 months In August, Ether saw losses over the past three years in August.
The asset fell by duplicate number in August 2023 and 2024, but advanced a whopping 35.6% in August 2021, which was a year of Bull Market, According to In coinglass.
On the weekend, Eric Trump, the son of the US president Donald Trumptold his X followers to buy eth dip.
Meanwhile, CNBC May label Ethereum “Wall Street’s Invisible Backbone” in an article on Saturday.
Magazine: China is joking with US crypto policies, new dark telegram markets: Asia Express
