A high-net-worth Ethereum ($ETH) investor has recently made a re-entry into the market with a huge bet. As per the data from Lookonchain, the crypto whale again participated in the Ethereum market with a bold $20.55M bet following DCA strategy, irrespective of having formerly incurred a large loss of $11M. The on-chain analytics platform took to its official account on X to share details of this event.
Whale Invests M in $ETH, Underscoring Strategic Market Reentry Amid Rising Speculation of Bull Run
The exclusive market data shows a notable transaction of $20M in $ETH by the crypto whale. On the other hand, 3 months back, the same whale had liquidated the total $ETH holdings thereof. At that time, Ethereum ($ETH) was changing hands at nearly $2,740. The respective sale amounted to a substantial loss of up to $11M. This marked a big exit at the respective time and prompted speculation about the investor’s loss of hope in the potential price recovery of Ethereum.
Nonetheless, the recently rise in optimism around Ethereum ($ETH) amid the significant price growth of the top altcoin. At the moment, Ethereum ($ETH) is changing hands at $2,405.76. This figure indicates a 3.74% increase over the past 24 hours. In addition to this, the 7-day price performance of Ethereum highlights a noteworthy 31.25% upsurge. Apart from that, over the past month, the Ethereum price has presented an enormous 49.78% rise.
At present, the $ETH whale’s unexpected reentry to the market with a 2,713 $ETH displays a great confidence in dominant altcoin. This move also denotes a buy-the-dip strategy, signifying the renewed conviction in the long-term prospects of Ethereum. In this respect, the whale has made 3 notable $ETH transactions.
FOMO Spread Concerning Approaching Altseason
The most recent among reportedly accounted for 4,608 $ETH ($10.83M), taking place just a few hours back. Moreover, the other 2 include 4,415 $ETH ($9.72M) and 2,713 $ETH ($4.08M), occurring one day ago and 30 days ago respectively. Along with this, the respective conviction is also complemented by the latest price rally of Ethereum. Even then, amid the growing positive market momentum, the further price direction of Ethereum remains to be seen. In the meantime, while the FOMO of a large-scale altseason is rising, market onlookers keep watching for potential signs in its favor.
