Ethereum: Why major investors are holding on despite ETH’s price rise

soared over the past few weeks, causing a surge in optimism across traders and holders alike. Most of these holders turned profitable due to this surge in price.According to Lookonchain’s data, a whale has strategically placed its bets on the Ethereum ecosystem.

This purchase consisted of 8,733 ETH at $3,054.56 per token, representing a total investment of 26.67 million USDT. As a result, at press time, the whale held an unrealized profit of 6 million dollars. The interest showcased in ETH by whales suggests that major investors see significant value in the king of altcoins, potentially leading more investors to buy in and driving the price up.However, it wasn’t just the whales that were showing interest in ETH. AMBCrypto’s analysis of Santiment’s data revealed that retail investors were also accumulating significant amounts of the altcoin.With more buyers in the market, there can be upward pressure on prices.

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