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Pi Pi (PI) $0.44 ↓ -0.80%
Ethereum Classic Ethereum Classic (ETC) $21.99 ↓ -2.59%
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Internet Computer Internet Computer (ICP) $5.42 ↓ -0.74%
OKB OKB (OKB) $47.61 ↓ -1.11%
Bonk Bonk (BONK) $0.00 ↓ -3.97%
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Mantle Mantle (MNT) $0.74 ↓ -2.34%
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Home Cryptocurrency

Ethereum Whales Spark Confusion! One Sells While Another Makes a Big Purchase

Behcet Ekici by Behcet Ekici
3 October 2024
in Cryptocurrency, News
Reading Time: 2 mins read
0
representing Ethereum whales making big moves with a larger more prominent whale symbol The image should feature a large abst

Ethereum (ETH) whales are taking different directions, causing a stir in the market. While an ICO whale has been offloading their holdings, another major entity has seized the opportunity to buy in at lower prices.

Table of Contents

Toggle
  • ICO Whale Offloads Millions in ETH
    • YOU MAY BE INTERESTED
    • Didn’t Ride the Turbo? MoonBull Whitelist Is Live Now and Charging Ahead in the 100x Crypto Race
    • Ponke Delivered Early Gains—But Troller Cat’s 1833% ROI Has Claws in the Game Now
  • Mysterious Whale Buys the Dip

ICO Whale Offloads Millions in ETH

According to blockchain analytics firm Lookonchain, an Ethereum ICO participant sold $47.54 million worth of ETH over the past two days. This whale had originally acquired 150,000 ETH during the ICO from Genesis, paying $46,500 for the entire amount. Since then, the value of these holdings has skyrocketed to $358 million.

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In the past week, this whale also sold 32,000 ETH, continuing their recent pattern of unloading large amounts of Ethereum.

representing Ethereum whales making big moves symbolizing a large sale and purchase of ETH The visual should feature abstract

Mysterious Whale Buys the Dip

While the ICO whale was selling off, a mysterious entity known as “7 Siblings” made a significant move by buying into the recent market dip. This entity re-entered the market, spending $66 million USDC to acquire 28,120 ETH at an average price of $2,350 per coin.

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This isn’t the first time this whale has made a bold purchase. On August 5th, amid another market crash, they spent $129.3 million USDC to buy 56,093 ETH at an average price of $2,305.

The mysterious “7 Siblings” with $2.2B assets is back, quietly buying 28,120 $ETH ($66M) during the recent dip!

Notably, in the August 5 crash, this entity spent 129.3M $USDC to purchase 56,093 $ETH at an average price of $2,305.

Recently, as the #Ethereum price crashed again,… pic.twitter.com/pxS4899Ast

— Spot On Chain (@spotonchain) October 3, 2024

These opposing moves from significant Ethereum whales have left the market watching closely, with some speculating on the motives behind these large transactions.

Tags: 7 siblingsethethereumICO whale
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Behcet Ekici

Behcet Ekici

Technical analyst/ Financial Analyst / Writer/ Content Editor My name is Behçet Ekici, and I am a content writer with a focus on technical analysis in the world of cryptocurrency. With years of experience writing in the industry, I have developed a keen understanding of how to analyze market trends and provide valuable insights to readers.

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