Ethereum (ETH) Bullish Whales Coming Back With Enormous Longs

U.Today
U.Today

19 Nov 2023 10:37 AM

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.

The sentiment in the article is predominantly positive, highlighting the bullish sentiment and strategic moves by ETH whales.

Go to publisher site

You May Ask

What have ETH whales been doing in the market?How are ETH whales using ETH as collateral on DeFi lending platforms?What does the withdrawal of a significant amount of ETH from Bitfinex suggest?How are ETH whales positioning themselves to benefit from price increases?

Discover More

ETH whalesmarket activityDeFi lendingcollateralstablecoinscold storagebullish outlooklong-term investmentcryptocurrency accumulation.Ethereum

Suggested Reads