🐳 Whales Are Buying the Ethereum Dip as Market Selling Pressure Builds.
On-chain data shared by Lookonchain shows large investors accumulating $ETH despite the broader market downturn. One wallet borrowed $22 million in USDT from Aave and used approximately $21.55 million to purchase 10,000 ETH at an average price of $2,155.
Another whale withdrew an additional 3,500 ETH worth around $7.53 million from Binance. This brings the wallet’s total withdrawals over the past week to 16,577 ETH, valued at approximately $37.5 million.
The activity suggests some large holders are using the market weakness to increase their #ETH exposure. However, accumulation by a few wallets does not guarantee an immediate recovery, particularly while broader selling pressure remains high.
#Macro Insights# #Altcoin Season#EthereumSpotETFsPost$365MWeeklyOutflow #JobsReportRaisesHikeOdds #NvidiaInvestigatesAfterHuang’sAffairApology
On-chain data shared by Lookonchain shows large investors accumulating $ETH despite the broader market downturn. One wallet borrowed $22 million in USDT from Aave and used approximately $21.55 million to purchase 10,000 ETH at an average price of $2,155.
Another whale withdrew an additional 3,500 ETH worth around $7.53 million from Binance. This brings the wallet’s total withdrawals over the past week to 16,577 ETH, valued at approximately $37.5 million.
The activity suggests some large holders are using the market weakness to increase their #ETH exposure. However, accumulation by a few wallets does not guarantee an immediate recovery, particularly while broader selling pressure remains high.
#Macro Insights# #Altcoin Season#EthereumSpotETFsPost$365MWeeklyOutflow #JobsReportRaisesHikeOdds #NvidiaInvestigatesAfterHuang’sAffairApology
