According to BlockBeats, Ethereum whales have reportedly purchased over 700,000 ETH in the past three weeks. The total amount of these acquisitions is estimated to be around $2.45 billion. The information was tracked and reported by on-chain analyst Ali Charts.
The significant accumulation of Ethereum by these large-scale investors indicates a strong confidence in the future of the cryptocurrency. Despite the volatile nature of the crypto market, these whales seem to be betting on the long-term value of Ethereum.
It's important to note that the actions of whales can have a substantial impact on the price of Ethereum. Their large-scale purchases can drive up the price, while massive sell-offs can cause it to plummet. As such, the recent buying spree by Ethereum whales could potentially signal a bullish trend for the cryptocurrency.