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A “diamond hand” ethereum Whale (eth) Suddenly, a whale emerged that transferred a massive amount of 15,000 eth tokens to a major exchange. Given the large size of the transaction, this whale has caught the attention of many ethereum investors and the crypto community at large.
Diamond Hand whale moves 15,000 eth tokens
Spot On Chain, a blockchain analytics platform, was revealed on September 22 in an article on x (formerly twitter) x.com/spotonchain/status/1837663788138701287?s=46″ rel=”nofollow”>mail that an anonymous Diamond hand whale had transferred 15,000 eth worth $38.4 million from his wallet address “0x682” to crypto-assets-arent-securities/” rel=”nofollow”>Krakenone of the largest cryptocurrency exchanges in the world.
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A diamond hand whale is a term used essentially to describe traders or investors who HODL your coins, stocks, bonds, silver or notes for an extended period with no plans to sell, no matter how much the value of the token changes or the market fluctuates.
Spot On Chain data has revealed that this anonymous Diamond whale had initially made two eth deposits to Kraken, both worth over $30 million. Coincidentally, these two transactions occurred just before the price of ethereum experienced a decline.
In the first transaction, the whale moved 10,000 eth tokens, worth approximately $34.2 million, to Kraken on July 25, just before the price of ethereum dropped by 7.6%. In the second transaction, which took place on August 20, the Diamond Hand whale deposited 15,000 eth, valued at $39.7 million at the time. This significant eth transaction had occurred just before a 2.5% decline in the price of ethereum.
Following this trend, it seems that this particular eth deposits from whales It may have been carefully calculated and strategic, executing trades just before a price drop to avoid a loss. Furthermore, the whale's actions could offer valuable information, potentially signaling a ethereum price drop imminent.
Currently, the diamond hand whale holds 26,639 eth tokens, worth approximately $69.7 million, with a total estimated profit of $132 million. massive benefit represents an impressive gain of more than 86%.
ethereum Price Analysis Update
He ethereum Price has remained relatively stable over the past few weeks, experiencing modest gains after securing an extended period of significant bearish activity. According to data from CoinMarketCap, eth is trading at $2,640reflecting a 1.93% increase over the past week and an impressive 13.43% increase over the past seven days.
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Notably, ethereum's bullish momentum has sparked optimism among analysts. A prominent cryptocurrency analyst identified as 'crypto Patel' on x has set ambitious price targets for ethereum, x.com/cryptopatel/status/1837336578772934984?s=46″ rel=”nofollow”>predicting that the cryptocurrency could experience a surge to between $5,500 and $6,000.
He identified the best accumulation zone for investors between $2,500 and $2,100. Additionally, the analyst shared his long-term target for eth, predicting that the cryptocurrency could experience a price break from $8,000 to $10,000.
Featured image created with Dall.E, chart from Tradingview.com
