$112M Whale Deposit Boosts Galaxy Digital with ETH Gain Potential
Galaxy Digital has received a significant deposit of $112 million in Ethereum (ETH) from an anonymous whale, also known as a large investor. The whale began accumulating ETH through over-the-counter (OTC) trades in July at an average cost of $2161.51 per unit.
The 42,000 ETH deposited by the whale positions it for a substantial realized gain of $21.096 million, should the price of ETH rise to match its original buying price.
Currently, the price of ETH is trading at $2663.81 on the 4-hour chart, which is above the EMA50 support at $2634.05 and well clear of the EMA200 at $2434.11.
The technical indicators suggest fading momentum, with a MACD death cross at 21.74 and an RSI at 49.82 remaining neutral within the Bollinger Bands.
As a result, analysts expect any pullback to find bids at the lower band of $2632.89 before continuation, while the next volatility exhaustion target lies at the upper band of $2805.05.