Ethereum Whale Diving: Long-Term Recovery or Short-Term Boom?
Whales are starting to show a lot of interest in ETH along with retail investors.
The price of ETH rose significantly and short positions were liquidated.
Ethereum (ETH) has remained below $3,200 for some time.
However, a recent surge in interest has pushed ETH above previous price levels. A whale enters the scene.
According to data from Lookonchain, large whales continued to purchase ETH and entered long positions in the ETH/BTC trading pair.
An investor borrowed 2,301 WBTC (worth $119.75 million) from AAVE following the launch of the Bitcoin ETF on January 10 and exchanged it for 41,947 ETH at an interest rate of 0.055.
In the last three days, whales used 35 million USDC to buy 10,952 ETH at $3,196.
Large investors with large capital placing big bets on ETH could increase overall confidence in the cryptocurrency.
This can create a snowball effect of buying pressure and attract other skeptical investors.
fountain:
Not only have whales shown their interest in ETH, but demand for Ethereum from retail investors also appears to be increasing.
According to AMBCrypto's analysis of Santiment data, large amounts of ETH began to accumulate at addresses between 0.001 and 1 ETH.
The interest in ETH from both whales and retail investors shows that sentiment around ETH is relatively high across all sectors of the cryptocurrency market.
