Based on information from the @lookonchain analytics platform, two wallets bought substantial quantities of Ethereum through centralized exchanges just a few hours ago, and they have also carried out significant transactions over the past three days.
One wallet among them is thought to be connected to Jihan Wu’s business. Simultaneously, some large Ethereum investors have been purchasing more Ethereum. On Binance today, a significant Ethereum wallet has executed a substantial sale.
Whales scooping up massive ETH chunks
According to a report from Lookonchain, two major investors have acquired large amounts of Ethereum. One possible identity for one of these whales is Matrixport, which was founded by Jihan Wu, the former CEO of Bitmain, in 2019. This marks his second business endeavor in the blockchain industry.
Matrixport’s wallet is believed to have transferred 22,251 Ether from cryptocurrency exchanges within the recent hours. The value of this Ethereum amount amounts to an impressive $80.06 million. In addition, during the past three days, the same wallet has taken out 33,925 Ether. This large sum of Ethereum was equivalent to approximately $122.06 million at the time of the transactions.
Additionally, Lookonchain disclosed the supposed Matrixport wallet address: 0xacc74cfaa8ad730194c1828cc179c78d5c08200e.
Whales are amassing large amounts of Ethereum! Within the past hour, an entity identified as 0xACc7, believed to be Matrixport, withdrew 22,251 ETH worth approximately $80.06 million from exchanges. Over the past three days, this same entity has withdrawn a total of 33,925 ETH, or around $122.06 million. Likewise, whale “0x4359” extracted 3,092 ETH valued at about $11.12 million from Binance.
— Lookonchain (@lookonchain) April 11, 2024
A second whale identified as “0x4359” was observed purchasing Ethereum. They withdrew a sum of 3,092 Ethereum, equivalent to approximately $11.12 million, from Binance. Over the last three days, this entity bought a total of 24,044 Ethereum from Binance. During these transactions, the price of Ethereum on an hourly chart formed three consecutive red candles, causing it to drop from $3,609 to $3,543.
Anonymous whale dumps millions in ETH
Simultaneously, the previously mentioned Ethereum-hoarding whales were amassing coins, but a significant wallet has been offloading its 9,000 ETH stash on Binance for around $3,560 each coin. This substantial sum of Ethereum translates to an impressive $32 million.
The whale made its largest single Ethereum deposit yet, according to the mentioned platform. To date, this particular whale has amassed 29,738 ETH, which is equivalent to around $106 million. The total earnings from these transactions are estimated to be approximately $68.5 million – representing a remarkable 65% increase in value.
A large Ethereum investor identified as 0x347 transferred 9,000 ETH, equivalent to around $32 million, into Binance at a price of approximately $3,560 within the past half hour. This is the biggest single deposit of ETH made by this investor so far. Presently, they own 29,738 ETH or roughly $106 million, with estimated earnings of around $68.5 million, representing a profit increase of approximately 65%. Keep up with…
— Spot On Chain (@spotonchain) April 11, 2024
On Monday, Ethereum surpassed $3,720 before experiencing a setback of 7.80% by Wednesday. In the last 24 hours, Ethereum regained 5.16%, but then dropped another 2%.
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2024-04-11 16:25