Ethereum’s big moves: Whales buy the dip leaving ETH’s price at…

The slump however, failed to influence the market behavior of whale investors, as the latter still seemed bullish on ETH’s prospects.

A particular wallet with address 0xe0b snapped 1,524 stETH at an average price of $3,159. With this grab, the wallet owner pushed their total stETH holdings beyond $10 million, earning an estimated 3.42% profit. In a bigger purchase, a whale amassed 7,128 ETH, worth $22 million at prevailing prices, at $3,111. The wealthy investor reportedly sat on a huge $482 million worth of ETH stash.These were not isolated developments though. According to AMBCrypto’s analysis of Santiment’s data, ETH whales upped their transaction activity in the last 2-3 days, as seen by the jump in large transfers exceeding $100k.

Moreover, the share of total supply held by top addresses rose from 41.37% on the halving day to 41.45% on the 24th of April, suggesting accumulation by whales.On the derivatives markets too, majority of the whales were bullishly positioned. About 63% of the total whale positions on Binance were long on ETH, as per AMBCrypto’s analysis of Hyblock Capital data.The market sentiment leaned towards greed, indicating the possibility of increase in buying pressure in the days to come.

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