While BTC fell to $ 40,000 with the selling event following the approval of the Spot Bitcoin ETF, altcoins were also affected by this decline.
While some investors sell for profit, some investors make purchases with the idea that “every decline is an opportunity”.
At this point, Lookonchain said in its post that whales were collecting Ethereum.
Accordingly, whales purchased 26,841 ETH worth a total of $64.5 million today.
“Whales purchased a total of 26,841 ETH ($64.5 million) today and are accumulating ETH.
0x55C1 withdrew 7,779 ETH ($18.7 million) from Binance 2 hours ago
0xDa17 and 0x278f (presumably the same person) withdrew 8,077 ETH ($19.4 million) from Bitfinex.
0x5a11 withdrew 3,228 ETH ($7.8 million) from Binance.
Additionally, 6 new wallets withdrew 7,756 ETH ($18.7 million) from Binance and Kraken.”
Ethereum continues to trade at $2,378 at the time of writing.
*This is not investment advice.