During a period of heightened market volatility and widespread panic selling, a major Ethereum whale has purchased approximately 48,825 ETH, valued at around $127 million. This significant acquisition occurred despite bearish market conditions influenced by recent Bitcoin price declines and geopolitical tensions.
Data from blockchain analytics firm Lookonchain reveals that the whale executed these large purchases through exchanges including Coinbase and Wintermute. The average purchase price was about $2,605 per ETH, even as many retail investors worry prices may fall further. Prior to this move, the whale’s wallet received over $127 million in USDC stablecoins, suggesting a planned strategy rather than an impulsive buy.
Lookonchain also notes the whale’s historical trading success, including a prior $30 million profit from Ethereum trades, implying experienced market insight. The investor’s accumulation coincides with price dips, indicating a buy-the-dip approach and confidence in Ethereum’s recovery potential.
Transaction records show rapid and substantial inflows consolidating into a single wallet, underlining the scale and intention behind these moves. Though no direct evidence of insider information exists, the timing and size of the purchases have drawn attention within the crypto community, where some speculate the whale anticipates a market rebound.
Ethereum currently trades near $2,535, and the whale’s activity highlights a notable contrast to general market sentiment during this downturn.