Ethereum Whale Nets $9.87M Amid 25% ETH Price Surge
- An Ethereum whale profited $9.87M following a calculated sale.
- ETH climbed 25% within a week.
- Market remains bullish amidst institutional inflows.
An Ethereum whale, using wallet “0x8C08”, secured a $9.87M profit as the cryptocurrency surged by 25% in one week.
The event highlights strategic plays in the crypto market, resulting in increased short-term volatility but maintaining long-term investor interest.
Ethereum Whale Sells 8,005 ETH for $9.87M Profit
Ethereum whale wallet “0x8C08” executed a sale of 8,005 ETH, generating a $9.87M profit. The transaction took place during a period of rapid price increments.
The whale initially acquired ETH at an average price of $2,721 and sold it for $3,751, showing investment proficiency. This activity has attracted attention across various blockchain analytics platforms like Lookonchain.
Institutional Net Inflows Counteract Whale Selling
The strategic sale influenced short-term volatility in the market, though institutional net inflows, like those from recent Ethereum ETFs, provided support. This buying pressure balanced the selling activity from whales.
While the sale prompted discussions of possible selling pressure, the overall sentiment remains bullish due to significant institutional investments and continuous market expansion for Ethereum. Glassnode, On-chain Analytics, has remarked: “A red band of high-volume buying around $2,520 in early July has faded, suggesting most in this price range—nearly 2 million ETH—are locking in gains, but long-term holders remain net buyers, indicating fresh demand is absorbing sell pressure.” Glassnode Analysis
Expert Views on Whale-Induced Volatility
Past activities during the 2018 and 2021 bull runs showed similar patterns where whale trades caused temporary price shifts. These are often followed by new buying phases once the market stabilizes.
Given the current institutional backing, experts predict sustained demand could mitigate short-term impacts, fostering a continued upward trend in Ethereum’s valuation. For further discussions, check out this forum: Community Forum.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
