$ETH Peak Rise
Whales have been accumulating a significant amount of ETH and are holding firm despite the significant price increase.
The price of Ethereum [ETH] has risen over the past few weeks, causing increased optimism among both traders and shareholders. Many of these owners made profits due to this increase in price.
The whale in question had accumulated a significant amount of altcoins even before news broke that the SEC had approved ETFs tied to ETH.
This purchase consisted of 8,733 ETH at $3,054.56 per token, representing a total investment of 26.67 million USDT. As a result, at the time of writing, the whale had $6 million in unrealized profits.
Capitalizing on the positive sentiment surrounding the SEC's approval, the whale then dove deep into the Ethereum ecosystem, investing $24.7 million in various tokens in the ecosystem.
The interest whales have shown in ETH suggests that major investors see significant value in the king of altcoins, potentially leading to more investors buying and pushing the price higher.
This could lead to a positive feedback loop for ETH in the future.
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