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A “Diamond Hand” Ethereum (ETH) whale has abruptly emerged, transferring a monolithic 15,000 ETH token to a large exchange. Given the sheer size of the transaction, this whale has caught the attraction of galore Ethereum investors and the broader crypto community.
Diamond Hand Whale Moves 15,000 ETH Tokens
Spot On Chain, a blockchain analytics platform, revealed connected September 22 successful an X (formerly Twitter) post that an anonymous Diamond manus whale had transferred 15,000 ETH valued astatine $38.4 cardinal from their wallet code “0x682” to Kraken, 1 of the world’s biggest crypto exchanges.
A Diamond manus whale is simply a word fundamentally utilized to picture traders oregon investors who HODL their coins, stocks, bonds, metallic oregon bonds for an extended play without plans to sell, nary substance however overmuch the worth of the token changes oregon the marketplace fluctuates.
Data from Spot On Chain has revealed that this anonymous Diamond whale had initially conducted 2 ETH deposits into Kraken, some exceeding $30 million. Coincidentally, these 2 transactions occurred conscionable earlier the terms of Ethereum experienced a decline.
The archetypal transaction saw the whale determination 10,000 ETH tokens, worthy astir $34.2 cardinal to Kraken connected July 25, conscionable earlier the terms of Ethereum fell by 7.6%. In the 2nd transaction which occurred connected August 20, the diamond manus whale deposited 15,000 ETH, valued astatine $39.7 cardinal astatine the time. This important ETH transaction had occurred conscionable earlier a 2.5% alteration successful Ethereum’s price.
Following this trend, it appears that this peculiar whale’s ETH deposits whitethorn person been cautiously calculated and strategic, executing transactions conscionable earlier a terms alteration to debar a loss. Moreover, the whale’s actions could connection invaluable insights, perchance signaling an impending diminution successful the terms of Ethereum.
Currently, the diamond manus whale holds 26,639 ETH tokens, worthy astir $69.7 million, with an estimated full nett of $132 million. This massive profit represents an awesome summation of implicit 86%.
Update On Ethereum Price Analysis
The price of Ethereum has been comparatively unchangeable successful caller weeks, experiencing humble gains aft ensuring an extended play of important bearish activity. According to CoinMarketCap’s data, ETH is trading astatine $2,640, reflecting a 1.93% summation successful the past week and an awesome 13.43% surge implicit the past 7 days.
Notably, Ethereum’s bullish momentum has sparked optimism amongst analysts. A salient crypto expert identified arsenic ‘Crypto Patel’ connected X has acceptable ambitious terms targets for Ethereum, predicting that the cryptocurrency could witnesser a surge betwixt $5,500 to $6,000.
Source: XHe identified the champion accumulation portion for investors arsenic betwixt $2,500 to $2,100. Furthermore, the expert shared his semipermanent people for ETH, forecasting that the cryptocurrency could acquisition a price breakout from $8,000 to $10,000.
Featured representation created with Dall.E, illustration from Tradingview.com
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