With the crash of Bitcoin (BTC), the whales strengthened their Ethereum (ETH) purchases.
Reporting that SpaceX has sold $373 million worth of BTC continues to shake cryptocurrencies. Ethereum (ETH), which hung up to $ 1550 with BTC throwing a needle at $ 25,130, found strength after the SEC gave the green light to the ETF issue. ETH, which has recovered much faster than other altcoins, is currently trading at $ 1685. The solid stance of the technical and basic structure on the ETH side also attracted the attention of whales.
Interest in ETH is growing
Known for its onchain data, Lookonchain has been releasing stunning data about ETH since last night. The company shared the information that more than $ 8 million (5,000 ETH) was invested in Coinbase as the market crashed. Two different whales bought $9 million worth of ETH at roughly the same minutes. Additionally, a different whale has invested 3,998 ETH worth $6.72 million in Compound. Again, the same whale bought 3,027 ETH at $1,652.
The SEC’s positive stance on ETH ETFs seems to have caught whales’ attention. With the decline of the market, the whales, who turn directly to the leader of altcoins, increase the amount in their portfolios. ETH, which fell from $ 1810, came to $ 1685 after touching $ 1550. ETH, which gives stronger signals compared to other altcoins, is curiously followed.
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