Unknown Whales Abruptly Accumulate $4,167,000,000 in Ethereum via Exchanges: Report
Unknown entities have accumulated $4.167 billion in Ethereum (ETH) via exchanges, contributing to its recent price increase. Analyst EmberCN reports that this buying spree occurred over a month across platforms like Kraken, Binance, and Coinbase. Crypto analyst Benjamin Cowen anticipates Ethereum could reach a new all-time high by December, while Fundstrat's Tom Lee predicts a year-end price between $7,000 and $15,000. Currently, Ethereum is trading at $4,260, reflecting a 6.4% rise in the last 24 hours.
Unknown entities are reportedly accumulating billions of dollars worth of the second-largest digital asset by market cap via crypto exchange platforms.
In a post on the social media platform X, Wu Blockchain reports that Chinese on-chain analyst EmberCN says unknown deep-pocketed investors have gobbled up billions of dollars worth of Ethereum (ETH) from crypto exchanges in about a month, contributing to its recent price hike.
Though no data is available on which firms bought the ETH, EmberCN reveals the Ether bought during that time frame was purchased en masse over Kraken, Binance, Coinbase, BitGo, Falcon X and Galaxy Digital.
Recently, widely followed crypto analyst Benjamin Cowen told investors to expect Ethereum to rise to a new all-time high by December and possibly reach a market cycle top by January.
Meanwhile, Fundstrat’s Tom Lee said last week that Ethereum has the potential to become “one of the biggest macro trades of the decade,” predicting that it will end the year with a price tag of between $7,000 and $15,000.
Ethereum is trading for $4,260 at time of writing, a 6.4% increase during the last 24 hours.
