In a noteworthy move in the crypto market, an anonymous wallet has made a significant Ethereum ($ETH) withdrawal. As per the data from Lookonchain, the anonymous extracted $2.9M in $ETH and converted it to $VIRTUAL, raising speculations among the crypto community.
This notable $ETH withdrawal and conversion indicates a substantial shift in overall investor activity. Moreover, the development also denotes greater confidence in the $VIRTUAL token. Hence, the lesser-known crypto asset $VIRTUAL is seemingly getting notable traction in the market. Lookonchain, an onchain crypto analytical platform, pointed out the strategic move shift of crypto whale’s from $ETH to $VIRTUAL through its X account.
Anonymous Crypto Wallet Converts 854 $ETH to $VIRTUAL
The data points out that the anonymous wallet redeemed up to 854 $ETH coins, accounting for $2.9M from Coinbase. Following the withdrawal of these coins from the prominent U.S.-based crypto exchange, the wallet executed a conversion.
In line with the data, the wallet converted the extracted $ETH to $VIRTUAL. In this respect, the transaction signifies the increasing interest in the comparatively lesser-known token. Particularly, by converting the above-mentioned $ETH, the wallet reportedly obtained 851,387 $VIRTUAL tokens.
The Move Reflects Heightened Investor Confidence in $VIRTUAL
Such a case, where someone redeems a well-known asset and invests that value into a lesser-known asset, often signals a heightened confidence in the future of that token. At the moment, $VIRTUAL is changing hands at $3.71.
This price level indicates a 7.36% increase over the last twenty-four hours. However, the crypto token displays a 53.08% price spike over the last 7 days. Moreover, the crypto asset’s monthly price movement shows a staggering 180.66% surge.
The Move Might Lead to a Substantial Market Shift Concerning $VIRTUAL
Keeping in view the rising optimism around $VIRTUAL, crypto wallets like the one mentioned before are taking more and more interest in it. Additionally, such massive movements can trigger enormous upcoming market shifts. According to Lookonchain, the $ETH extraction and conversion into $VIRTUAL displays its potential to achieve new milestones in terms of price.
