{"id":31942,"date":"2023-11-05T15:53:16","date_gmt":"2023-11-05T19:53:16","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31942"},"modified":"2023-11-05T15:53:16","modified_gmt":"2023-11-05T19:53:16","slug":"this-smart-whale-buys-eth-again-could-there-be-an-incoming-price-surge","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/05\/this-smart-whale-buys-eth-again-could-there-be-an-incoming-price-surge\/","title":{"rendered":"This \u2018Smart\u2019 Whale Buys ETH Again \u2013 Could There Be An Incoming Price Surge?"},"content":{"rendered":"

In the last week, Ethereum (ETH) has attracted many investors\u2019 attention as it gradually approaches<\/a> the $1900 price region.\u00a0Similar to many assets riding on the Bitcoin-fueled market rally, ETH, also known as Ether, is up by 5.85% in the last seven days, bringing its total price increase in the last four weeks to 15.17%.<\/p>\n

Interestingly, a recent whale movement has now added more speculation around ETH, prompting suggestions that the largest altcoin may soon experience a price surge.<\/p>\n

\u2018Smart\u2019 Whale Purchases $15.94 Million Ether \u2013 What Could They Know?<\/strong><\/h2>\n

In a Sunday post<\/a> on X, blockchain analytics platform Lookonchain shared that an ETH whale with the wallet address \u201c0xb15\u201d had just purchased 8,698 ETH, valued at $15.94 million, from the Binance exchange, depositing 31.8 million USDT in the process.<\/p>\n

This transaction has drawn much attention due to the past antecedents of this Ether investor. Popularly known as a \u201csmart\u201d whale, Lookonchain notes that \u201c0xb15\u201d has conducted 8 ETH transactions since February 12, recording a win rate of 87.5% and an aggregate profit of $13 million.\u00a0<\/p>\n

The smart whale bought $ETH<\/a> again!<\/p>\n

The whale deposited 31.8M $USDT<\/a> to #Binance<\/a> and withdrew 8,698 $ETH<\/a>($15.94M) 3 hours ago.https:\/\/t.co\/heBjvbk1Oi<\/a>https:\/\/t.co\/hDNN69qn3h<\/a> pic.twitter.com\/n0SmpqMsVI<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) November 4, 2023<\/a><\/p>\n\n

In particular, this smart whale is known for buying low and selling high. Most recently, they deposited<\/a> 24,495 ETH ($45 million) on Binance on November 2, shortly after purchasing 24,548 ETH, valued at $39.8 million, leading to a profit margin of approximately $5.47 million.<\/p>\n

Following the purchase made by \u201c0xb15\u201d on Sunday, many traders are likely on high alert as it indicates the whale is anticipating a continuous rise in Ether\u2019s price over the next few days.\u00a0<\/p>\n

Looking at Ether\u2019s daily chart, the altcoin is poised to break into the $1900 price zone if this buying pressure continues. However, investors should note the token\u2019s Relative Strength Index (RSI) is now at 71.43, indicating it is now in the overbought zone and may experience a trend reversal.\u00a0<\/p>\n

ETH Market Records Largest CEXs Weekly Outflow Since August<\/strong><\/h2>\n

In other news, centralized exchanges (CEXs) just recorded an outflow of $210 million worth of Ether in the last seven days, according to data from IntotheBlock.<\/a> This marks the altcoin\u2019s largest weekly outflow off CEXs since August.<\/p>\n

This data only reflects the strong bullish sentiment surrounding the ETH market, as a reduction in the token\u2019s supply on exchanges reflects an increase in purchasing activity by investors.\u00a0<\/p>\n

At the time of writing, Ether is trading at $1890.95, with a 2.61% gain in the last day. However, the token\u2019s daily trading volume is down by 11.485 and valued at $6.02 billion. With a market cap of $227.4 billion, Ethereum remains the second-largest cryptocurrency in the world.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In the last week, Ethereum (ETH) has attracted many investors\u2019 attention as it gradually approaches<\/a> the $1900 price region.\u00a0Similar to many assets riding on the Bitcoin-fueled market rally, ETH, also known as Ether, is up by 5.85% in the last seven days, bringing its total price increase in the last four weeks to 15.17%.<\/p>\n

Interestingly, a recent whale movement has now added more speculation around ETH, prompting suggestions that the largest altcoin may soon experience a price surge.<\/p>\n

\u2018Smart\u2019 Whale Purchases $15.94 Million Ether \u2013 What Could They Know?<\/strong><\/h2>\n

In a Sunday post<\/a> on X, blockchain analytics platform Lookonchain shared that an ETH whale with the wallet address \u201c0xb15\u201d had just purchased 8,698 ETH, valued at $15.94 million, from the Binance exchange, depositing 31.8 million USDT in the process.<\/p>\n

This transaction has drawn much attention due to the past antecedents of this Ether investor. Popularly known as a \u201csmart\u201d whale, Lookonchain notes that \u201c0xb15\u201d has conducted 8 ETH transactions since February 12, recording a win rate of 87.5% and an aggregate profit of $13 million.\u00a0<\/p>\n

The smart whale bought $ETH<\/a> again!<\/p>\n

The whale deposited 31.8M $USDT<\/a> to #Binance<\/a> and withdrew 8,698 $ETH<\/a>($15.94M) 3 hours ago.https:\/\/t.co\/heBjvbk1Oi<\/a>https:\/\/t.co\/hDNN69qn3h<\/a> pic.twitter.com\/n0SmpqMsVI<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) November 4, 2023<\/a><\/p>\n

In particular, this smart whale is known for buying low and selling high. Most recently, they deposited<\/a> 24,495 ETH ($45 million) on Binance on November 2, shortly after purchasing 24,548 ETH, valued at $39.8 million, leading to a profit margin of approximately $5.47 million.<\/p>\n

Following the purchase made by \u201c0xb15\u201d on Sunday, many traders are likely on high alert as it indicates the whale is anticipating a continuous rise in Ether\u2019s price over the next few days.\u00a0<\/p>\n

Looking at Ether\u2019s daily chart, the altcoin is poised to break into the $1900 price zone if this buying pressure continues. However, investors should note the token\u2019s Relative Strength Index (RSI) is now at 71.43, indicating it is now in the overbought zone and may experience a trend reversal.\u00a0<\/p>\n

ETH Market Records Largest CEXs Weekly Outflow Since August<\/strong><\/h2>\n

In other news, centralized exchanges (CEXs) just recorded an outflow of $210 million worth of Ether in the last seven days, according to data from IntotheBlock.<\/a> This marks the altcoin\u2019s largest weekly outflow off CEXs since August.<\/p>\n

This data only reflects the strong bullish sentiment surrounding the ETH market, as a reduction in the token\u2019s supply on exchanges reflects an increase in purchasing activity by investors.\u00a0<\/p>\n

At the time of writing, Ether is trading at $1890.95, with a 2.61% gain in the last day. However, the token\u2019s daily trading volume is down by 11.485 and valued at $6.02 billion. With a market cap of $227.4 billion, Ethereum remains the second-largest cryptocurrency in the world.\u00a0<\/p>\n

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