As the bitcoin and altcoin market tumbled in double digits, a popular Twitter analyst exposed whales’ millions of dollars in long transactions. We’re citing the details at Kriptokoin.com…
“Leader altcoin reaches challenging point for rally”
According to a well-known crypto expert, Ethereum (ETH) is trading where the reward greatly outweighs the risk. Crypto analyst nicknamed Light reports that Ethereum, the largest smart contract platform, is gaining positive momentum after a serious drop from ATH at $4,800:
The most convincing since November high for the ETH/USD pair in a long time the location is here. There was a more than 40% drop to the low of $2,200. As a result, we are unable to catch the falling knife. The Bitfinex billionaire has requested additional support. When everyone is nearsighted in Ukraine, his unique strength arises.
When it comes to the effectiveness of Bitfinex whales, the analyst says that Ethereum investors with deep pockets have opened massive longs on the crypto derivatives exchange:
Finex whales added 45,000 ETH in the previous two hours .
At the time of writing, 45,000 ETH is worth around $117.90 million.
Closed $2M long at an ETH whale market peak
In November of 2021 Light, a large Ethereum (ETH) whale $2B ETH discovered that he had closed his leveraged long position and was at the top of the second largest cryptocurrency by market cap. The analyst shares the following data on whale movements:
Ethereum transferred $90 million to Kraken to sell, while the Bitfinex whale requested $2 billion in ETH leverage, most likely to prudently leave the left scene.
The crypto strategist also monitors the behavior of Bitcoin (BTC) millionaires. According to Light, BTC whales are actively collecting the largest cryptocurrency:
increasing whale aggression on Bitfinex:
- speeding up positioning
- 700 BTC Added limit offers.
At the time of writing, Ethereum (ETH) is trading at $2,425.38, down 11.08% over the last 24 hours and down 18.97% from last week.
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