Crypto NewsAltcoinEthereum (ETH) Wind Blows in the Markets! Giant Corporate Whale Sold, Bottom...

Ethereum (ETH) Wind Blows in the Markets! Giant Corporate Whale Sold, Bottom Whale Started Buying Again!

Hong Kong-based asset manager Metalpha has deposited 10,000 ETH worth $23 million into Binance.

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Bitcoin (BTC) and altcoins experienced a major crash over the weekend, with Bitcoin falling to $52,500 while Ethereum fell to $2,150.

While investors were selling wildly during this decline, Metalpha, one of the leading cryptocurrency investment companies, also made a massive ETH sale.

According to Lookonchain's post, Metalpha moved $23 million worth of ETH to Binance today.

Accordingly, an address associated with Hong Kong-based asset manager Metalpha deposited 10,000 ETH to Binance.

Lookonchain also added that this address associated with Metalpha transferred a total of 23,589 ETH worth $54.1 million to Binance over the last three days.

Giant Whale Started Bottom Purchasing!

While Metalpha continues to sell ETH, a smart whale bought 5,000 ETH worth $11.46 million from the bottom in the last 2 days.

This whale purchased $5,200 ETH at an average price of $1,322 in November 2022. The whale then sold all of its ETH in January, December 2023, and January 2024 at an average price of $2,093, earning more than $4 million.

Ethereum continues to trade at $2,311 at the time of writing.

*This is not investment advice.

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