Whales buy ETH against the trend: Two addresses scoop up a combined $29 million worth of ETH, signaling buyers are stepping in amid the downturn
- According to Lookonchain monitoring, as reported by PANews on October 31, multiple whale addresses are buying ETH: whale address 0x72e0 received 9,625 ETH from FalconX, worth about $21.57 million; a newly created wallet address, 0x2908, withdrew 3,377 ETH from OKX, worth about $7.52 million.
- The two transactions totaled 13,002 ETH, worth about $29.09 million. Based on prices at the time of monitoring, ETH was trading at around $2,200.
- This comes in the wake of the Binance security incident: the official estimate of the total impact is about $6.3 billion, with about $3 billion frozen; withdrawals are expected to resume in phases within roughly 34 hours (they remain suspended for now), while BTC is trading at around $77,000. Large spot purchases amid this sentiment contrast with several earlier instances of whales transferring coins to exchanges.
- Note: Withdrawals and transfers from institutional platforms are movements of funds detected on-chain. Wallet ownership has not been verified, and buying intent can only be inferred from the activity; it should not be taken as a commitment to a bullish outlook.
My take: Neutral on ETH in the short term. Large whale purchases are a positive signal, but Binance withdrawals remain suspended and market sentiment is unsettled. Two purchases alone are not enough to confirm a reversal.
$ETH
#巨鲸 #ETH #On-chain data
Source: Lookonchain monitoring, as reported by PANews on October 31; wallet ownership has not been verified. For reference only; not investment advice.
What do you think of this round of whale buying—is it a dip-buying opportunity or simply a portfolio rotation? Tap the tag to see real-time prices, and join the discussion in the comments.
- According to Lookonchain monitoring, as reported by PANews on October 31, multiple whale addresses are buying ETH: whale address 0x72e0 received 9,625 ETH from FalconX, worth about $21.57 million; a newly created wallet address, 0x2908, withdrew 3,377 ETH from OKX, worth about $7.52 million.
- The two transactions totaled 13,002 ETH, worth about $29.09 million. Based on prices at the time of monitoring, ETH was trading at around $2,200.
- This comes in the wake of the Binance security incident: the official estimate of the total impact is about $6.3 billion, with about $3 billion frozen; withdrawals are expected to resume in phases within roughly 34 hours (they remain suspended for now), while BTC is trading at around $77,000. Large spot purchases amid this sentiment contrast with several earlier instances of whales transferring coins to exchanges.
- Note: Withdrawals and transfers from institutional platforms are movements of funds detected on-chain. Wallet ownership has not been verified, and buying intent can only be inferred from the activity; it should not be taken as a commitment to a bullish outlook.
My take: Neutral on ETH in the short term. Large whale purchases are a positive signal, but Binance withdrawals remain suspended and market sentiment is unsettled. Two purchases alone are not enough to confirm a reversal.
$ETH
#巨鲸 #ETH #On-chain data
Source: Lookonchain monitoring, as reported by PANews on October 31; wallet ownership has not been verified. For reference only; not investment advice.
What do you think of this round of whale buying—is it a dip-buying opportunity or simply a portfolio rotation? Tap the tag to see real-time prices, and join the discussion in the comments.
