Two wallets made significant purchases of Ethereum on centralised exchanges a few hours ago, then over the next three days, they made even larger purchases, according to data released by the @lookonchain analytics account.
Jihan Wu’s business is thought to be the owner of one of these wallets. While these whales have been purchasing Ethereum to add to their holdings, a giant wallet has made a significant sell of Ethereum on Binance today.
Whales scooping up massive ETH chunks
According to Lookonchain, two whales amassed substantial Ethereum holdings. According to the source, one of them may be Matrixport, the blockchain startup that Jihan Wu, the former head of Bitmain, created. It was his second company endeavour, founded in 2019.
Over the last two hours, 22,251 ETH were transferred from cryptocurrency exchanges to Matrixport’s wallet (supposedly). Ethereum is valued at an astounding $80.06 million in this quantity. Apart from that, 33,925 ETH have been withdrawn from the same wallet in the previous three days. When these purchases were made, the value of this chunk of Ethereum was $122.06 million.
Lookonchain further supplied the address 0xacc74cfaa8ad730194c1828cc179c78d5c08200e, which it thinks to be associated with Matrixport.
https://x.com/lookonchain/status/1778351371852669227
The second whale saw purchasing Ethereum was identified as “0x4359.” It removed 3,092 Ethereum off the Binance exchange, which is worth $11.12 million. It has bought 24,044 ETH total from Binance in the previous three days. Etherum dropped from $3,609 to $3,543 as these transactions were being made, as seen by three consecutive red candles printing on an hourly chart.
Anonymous whale dumps millions in ETH
Meanwhile, Ethereum has been sold by another large wallet as the aforementioned whales collected Ethereum. According to the @spotonchain analytics data account, a big Ethereum whale just moved 9,000 Ethereum to Binance in order to sell it for $3,560 per coin. The approximate worth of this quantity of Ethereum is $32 million.
This was the largest single deposit made by the whale that the previously described platform has tracked. This whale currently has 29,738 ETH valued at over $106 million, with a total profit of about $68.5 million, or 65% increase.
https://x.com/spotonchain/status/1778267774168797266
The second-largest cryptocurrency fell 7.80% early Wednesday after surging past $3,720 on Monday. Ethereum was able to recover 5.16% in the last day, however this was preceded by the previously mentioned 2% loss.
