WHALES BOUGHT OVER 341 MILLION DOLLARS WORTH OF ETHEREUM IN THE LAST 48 HOURS
According to analysts at Santiment, large holders of Ethereum (ETH) have been very active in the market over the past 24 hours. Renowned trader and expert Ali reported that whales have purchased more than 110 thousand $ETH coins in the past 24 hours. They spent about $341 million.
When large holders start actively buying up cryptocurrency, it can have several possible reasons. For example, whales have access to sensitive information or analytics that point to a potential rise or rise in the price of a digital coin. They may start buying up assets in anticipation of a further rise in quotes.
Large holders believe in the potential of ETH. Most likely, many of them believe that the current prices represent a good opportunity for a long-term investment, and therefore are actively buying digital coins to increase their positions. However, we should not forget that in some cases, whales may act actively to manipulate the market and create artificial demand in order to lock in short-term profits.
