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A “Diamond Hand” Ethereum (ETH) whale has all of a sudden emerged, transferring a large 15,000 ETH token to a serious change. Given the sheer dimension of the transaction, this whale has caught the eye of many Ethereum traders and the broader crypto group.
Diamond Hand Whale Strikes 15,000 ETH Tokens
Spot On Chain, a blockchain analytics platform, revealed on September 22 in an X (previously Twitter) submit that an nameless Diamond hand whale had transferred 15,000 ETH valued at $38.4 million from their pockets tackle “0x682” to Kraken, one of many world’s largest crypto exchanges.
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A Diamond hand whale is a time period primarily used to explain merchants or traders who HODL their cash, shares, bonds, silver or bonds for an in depth interval with out plans to promote, regardless of how a lot the worth of the token adjustments or the market fluctuates.
Knowledge from Spot On Chain has revealed that this nameless Diamond whale had initially carried out two ETH deposits into Kraken, each exceeding $30 million. Coincidentally, these two transactions occurred simply earlier than the worth of Ethereum skilled a decline.
The primary transaction noticed the whale transfer 10,000 ETH tokens, price about $34.2 million to Kraken on July 25, simply earlier than the worth of Ethereum fell by 7.6%. Within the second transaction which occurred on August 20, the diamond hand whale deposited 15,000 ETH, valued at $39.7 million on the time. This substantial ETH transaction had occurred simply earlier than a 2.5% lower in Ethereum’s worth.
Following this development, it seems that this explicit whale’s ETH deposits could have been rigorously calculated and strategic, executing transactions simply earlier than a worth lower to keep away from a loss. Furthermore, the whale’s actions may supply worthwhile insights, doubtlessly signaling an impending decline within the worth of Ethereum.
At present, the diamond hand whale holds 26,639 ETH tokens, price roughly $69.7 million, with an estimated complete revenue of $132 million. This large revenue represents a formidable acquire of over 86%.
Replace On Ethereum Worth Evaluation
The worth of Ethereum has been comparatively steady in latest weeks, experiencing modest positive factors after making certain an in depth interval of great bearish exercise. In keeping with CoinMarketCap’s knowledge, ETH is buying and selling at $2,640, reflecting a 1.93% enhance within the final week and a formidable 13.43% surge over the previous seven days.
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Notably, Ethereum’s bullish momentum has sparked optimism amongst analysts. A outstanding crypto analyst recognized as ‘Crypto Patel’ on X has set bold worth targets for Ethereum, predicting that the cryptocurrency may witness a surge between $5,500 to $6,000.
He recognized the perfect accumulation zone for traders as between $2,500 to $2,100. Moreover, the analyst shared his long-term goal for ETH, forecasting that the cryptocurrency may expertise a worth breakout from $8,000 to $10,000.
Featured picture created with Dall.E, chart from Tradingview.com
