A massive cryptocurrency holder known as a whale has re-entered the market to purchase more ETH tokens following a substantial investment. Just recently, the whale transferred 7,000 ETH, valued at around $26.7 million USD, back to Binance while Ethereum was trading at $3,814.
The whale, who has made a profit of $76.6 million from ETH, has returned to accumulate more tokens. This comes after withdrawing a significant amount of ETH during last year’s bear market and depositing it into CEX whenever Ethereum’s price surged.
Currently, the whale holds 36,785 ETH, worth approximately $141 million. With an estimated gross profit of $76,606,250 and a growth rate of 57.9%, the whale continues to show bullish sentiment towards Ethereum, actively acquiring assets for future growth. This move by the whale could potentially spark interest from other traders and investors in Ethereum.
The return of whales like this one reflects a positive outlook for Ethereum, a cryptocurrency with strong potential for development. With upcoming events like the release of Ethereum 2.0 and the increasing popularity of DeFi, the currency is poised for growth.
The significance of this whale’s return lies in their confidence in Ethereum’s growth potential, as evidenced by their substantial holdings and active trading. Their actions indicate a belief in Ethereum’s overall growth in the near future, reinforcing the positive sentiment surrounding the cryptocurrency.