The crypto market is currently experiencing a downward pressure with the current market value, which is currently 3.12 trillion dollars, by 7.6 percent. The largest subcoins, including Ethereum, collapse in compliance with wider market trends. Meanwhile, a knowledgeable Ethereum whale has invested millions of ETH in ETH with a strategic “buying fall” move, taking advantage of the current market decline.
Ethereum Balina Buys its foot strategy!
Kriptokoin.comAs you have followed, the market received a heavy blow with harsh sales. According to Lookonchain, the On-Chain Analysis Platform, a Ethereum whale called “7 Siblings üzerine purchased 5,382 ETH worth $ 14.5 million. The Giant ETH whale bought a total of 50,429 ETH equivalent to $ 126 million in a single day. In a post that was shared in the early hours today, Lookonchain announced 7 Siblings’s large purchase of 45,047 ETH, worth $ 111.72 million. The purchase process was made at an average price of 2,480 per coin.
In particular, the last major ETH purchase by 7 Siblings took place on 6 August 2024. The whale bought them at the bottom of the market after a collapse. Therefore, it is estimated that the Ethereum whale uses the “buy from the bottom” strategy. The price of Ethereum is still watching $ 2,500, the lowest level of the month. Therefore, 7 Siblings have the possibility of continuing to accumulate more ETH.
” The worst time for a decline tendency in ETH! “
Analysts such as Mister Crypto say that this is the worst time to show a decline tendency in Ethereum ”. Therefore, the community is less optimistic about a close recovery. 7 Many Ethereum whales and ETH owners, which correspond to Siblings’ purchase move, benefit from the collapse of the market. This is also understood from the 264 %increase in daily transaction volume, which is currently 84.96 billion dollars. 7 It is noteworthy that Siblings’ ETH intake is that another Ethereum whale has made important profits by selling ETH with 50 times leverage.
Ethereum fell to the lowest level of recent months
During the article, the price of Ethereum fell to $ 2,577.76 with a significant decrease of 17 %in the last 24 hours. Token experienced a 16 %decrease in a week. In addition, ETH faced a large decline of 28 %in a month. Commenting on Ethereum’s decline tendency, Bitcoin enthusiast Justin Bechler said crypto money is dying. Another leading analyst, known as Crypto_twittier in X, explained the “great purchase opportunity olan reigned with Ethereum’s falling to a multi -year support level. However, the analyst admitted that Altcoin could re -test the support in the coming weeks.
