Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree
- On-chain data shows Ethereum whales are on a buying spree, accumulating over $800 million in ETH
- One institutional holder, SharpLink Gaming, has bought over 91,000 ETH (worth ~$275M) in just seven days
- This massive accumulation is fueling ETH’s price breakout and a historic shift in its market dominance
A massive $800 million buying spree from just a handful of whale and institutional wallets has fueled Ethereum’s recent surge, which has pushed its price to over $3,100. This aggressive, week-long accumulation provides hard, on-chain evidence of the powerful institutional demand driving the current rally as the crypto presses against a key technical pattern.
After weeks of gradual ascent, ETH is now trading around $3,137, pressing against the upper resistance of a rising wedge formation.
The Whale Hunt: A Breakdown of the $800 Million Buying Spree
In the last week alone, Ethereum has seen an extraordinary level of institutional interest. Blockchain analytics firm Lookonchain highlighted several wallet addresses making massive ETH purchases.
The post Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree appeared first on Coin Edition.
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Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree
- On-chain data shows Ethereum whales are on a buying spree, accumulating over $800 million in ETH
- One institutional holder, SharpLink Gaming, has bought over 91,000 ETH (worth ~$275M) in just seven days
- This massive accumulation is fueling ETH’s price breakout and a historic shift in its market dominance
A massive $800 million buying spree from just a handful of whale and institutional wallets has fueled Ethereum’s recent surge, which has pushed its price to over $3,100. This aggressive, week-long accumulation provides hard, on-chain evidence of the powerful institutional demand driving the current rally as the crypto presses against a key technical pattern.
After weeks of gradual ascent, ETH is now trading around $3,137, pressing against the upper resistance of a rising wedge formation.
The Whale Hunt: A Breakdown of the $800 Million Buying Spree
In the last week alone, Ethereum has seen an extraordinary level of institutional interest. Blockchain analytics firm Lookonchain highlighted several wallet addresses making massive ETH purchases.
The post Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree appeared first on Coin Edition.
Read More
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