Ether Whales estimates hundreds of millions of dollars in price recovery of the second largest cryptocurrency in the world despite the geopolitical tensions of investors and dampening appetite.
A whale (a large cryptocurrency investor) has opened an ether (Eth) long position of over $ 101 million with 25x leverage At the entry price of $ 2,247, According to To –block the data from Hypurrscan.
The investor generated more than $ 900,000 in the unlucky income, but paid more than $ 2.5 million in funding fees. His position stands liquid if the price of ether drops under $ 2,196.
The leveraged bet opened several hours before a second whale retreated more than $ 40 million worth of ETH from Binance, reaching a total of $ 112 million worth of ETH holdings, According to To blockchain data provider onchain lens.
The activity arrived as the Ether fell to a month less than $ 2,113 on Sunday, following US airstrikes to Iran’s nuclear sites. U.S. President Donald Trump called the attack of a “amazing military victory” and warned additional strikes unless Iran went to peace, Reuters reported.
The two countries have been involved in the strategic missile war since June 13, when Israel launched many strikes in Iran, marked the country’s largest attacks since the Iran-Iraq war in the 1980s.
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Most Bitcoin (Btc) and Ether entrepreneurs expect an additional correction after the latest increase in the ongoing conflict.
Around 64% of the industry’s most successful cryptocurrency entrepreneurs currently shortened the two largest cryptocurrencies in the world, while only 36% remain long, According to to the leading hyperliquid traders monitored by hyperdash.
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Ether investor in “Wait-And-See” mode
Most of Ether investors are currently on -departed due to the ongoing geopolitical and financial uncertainty, according to Nicolai Sondergaard, research analyst on the Nansen’s Crypto Intelligence Platform.
“We still have a lot of uncertainty in the market, be it macro or war,” the analyst told Cointelegraph, adding:
“These factors, combined with the fact that if we look at the options data, the view is still a bit neutral, we’re still in a kind of wait-and-see.”
Binance researchers also relate to price decline in geopolitical escalations, adding that a broader correction may still occur.
“If the familiar ‘Panic-Then-Recover’ pattern reappears it will give the hinge to how fast geopolitical narrative cools are,” According to In a Friday report from Binance Research. “Macro-driven pullbacks are still considered as instances-not signs of a greater return direction,” the report said.
On Tuesday, the staked Ether supply reached A new all-time high of more than 35 million, which signed that the Sale supply of Ether decreases as investors are preparing to hold their ETH to generate passive yield instead of selling at current prices.
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