Ethereum (ETH) Bullish Whales Coming Back With Enormous Longs
Ethereum whales setting up their longs ahead of new week...
- ETH whales have been active in the market, with one whale selling 12,048 ETH worth $23.4 million to repay debt.
- Whales have been using ETH as collateral on DeFi lending platforms to borrow stablecoins and purchase more ETH, indicating confidence in ETH's price appreciation potential.
- Two new wallets withdrew 21,076 ETH valued at $41.23 million from Bitfinex, suggesting a trend of moving funds to cold storage for long-term holding.
- A significant transaction involved a whale placing 7,324 ETH as collateral on Compound to borrow $9 million USDT, likely to purchase additional ETH and expand their position.
- These strategic moves by ETH whales reflect a bullish outlook and long-term investment perspective, with investors accumulating more ETH.
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The sentiment in the article is predominantly positive, highlighting the bullish sentiment and strategic moves by ETH whales.