Ethereum Whales Unload Millions via UBTC Swaps, Total Holdings Reach New High

Entities behind Ethereum (ETH) whale addresses have continued their aggressive buying spree, accumulating more of the cryptocurrency via UBTC swaps. According to blockchain news, these whales executed $16.03 million in purchases over the past 11 hours at an average price of $2580.

This brings the total cumulative deployment since September 18 above $38.61 million and pushes their total holdings to 15272.77 ETH at an average cost of $2528.24, resulting in a current unrealized profit of $2.115 million.

The whales' accumulation pattern is consistent with ongoing bullish trends, as evidenced by the Ethereum price action on the 4-hour chart, which shows the token trading above its Bollinger Bands with upper resistance at $2718.07 and lower support at $2467.61.