Crypto Whales Are Heavily Collecting Ethereum! Is ETH Rally Coming?

The critical process continues in the cryptocurrency industry. Crypto assets, which experienced sudden declines after the Israel-Iran conflicts, started to recover again. Today, it is observed that the leading cryptocurrency Bitcoin (BTC) and altcoins are losing value again.

According to Look On-Chain, a successful data provider, Justin Sun and some crypto whales are making significant ETH purchases. Here is the latest data on whales collecting Ethereum:

“0x4359 (possibly Justin Sun) withdrew 4,666 ETH (worth $14.91 million) from Binance again 6 hours ago. Since April 8, Sun has purchased 132,054 ETH (worth $420 million) at an average price of $3,173.

The new wallet “0x9EB0” withdrew 7,182 ETH ($23.06 million worth) from Binance in the last 18 hours.

0x4446 withdrew 11,892 ETH ($37.77 million worth) from Binance in the last 2 days. This whale then took a long position in ETH by depositing ETH into Compound and borrowing USDT.

“0x1958 withdrew 5,181 ETH (worth $16.28 million) from Binance again 34 hours ago, then deposited these assets into Bedrock and Pendle.”

If crypto whales continue to make such large ETH purchases in the coming period, an Ethereum rally may occur in the sector.
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