In recent days, several major investors have made large purchases of Ethereum, leading to a significant market revival and an increase in the cryptocurrency’s price above $2250.
This is reported by Business • Media
Activation of Major Players in the Ethereum Market
Analytical services Arkham and Lookonchain reported high activity from so-called Ethereum whales. In particular, accounts associated with a participant under the pseudonym 0xbilly recently purchased ETH worth approximately $17.5 million. Analysts noted that 0xbilly is known as one of the early enthusiasts of Ethereum and has actively participated in discussions about the network’s development since 2014.
“ETHEREUM OG JUST BOUGHT $17M ETH”
Another notable buyer was Eric Voorhees, the founder of the cryptocurrency platform ShapeShift, who is known as a long-time supporter of Bitcoin. According to Lookonchain, he initially spent 17.75 million USDT to purchase 8576 ETH at an average price of $2069. Subsequently, it was recorded that through two of his wallets, Voorhees acquired a total of 23,393 ETH for $49.08 million, with an average purchase price of $2098.
New Wallets and Changes in Whale Strategies
The demand for Ethereum is also confirmed by the activity of other major players. In particular, a new wallet withdrew 20,000 ETH from the Coinbase exchange, amounting to nearly $45 million. Additionally, analysts at Lookonchain noted a change in trading strategy from another investor: he closed a long position in the Bitcoin pair with a profit of $1.88 million, withdrew 7.1 million USDC from the Hyperliquid platform, and focused on the ETH spot market. As a result, this investor purchased 1827 ETH, bringing his total reserve to 12,028 ETH, valued at nearly $25 million.
All these transactions have impacted the price of Ethereum, which rose above the $2250 mark.
Previously, analysts at CryptoQuant warned that the price of Ethereum could temporarily drop to $1500 due to the so-called “acceptance paradox.”