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Crypto

Whale's $50M ETH Buy Spree Triggers Bullish Sentiment Among Investors

Guavy AI Editorial Team
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ETH DAI
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A mysterious whale has been actively buying Ether (ETH) tokens in large quantities. According to blockchain analytics platform Lookonchain, this whale acquired 25,425 ETH tokens at an average price of $1,968, totaling $50.04 million in DAI stablecoins.

This move by the whale is significant as it indicates that institutional investors are accumulating ETH during market dips, positioning themselves for potential future price recoveries.

Another institutional investor, Bitmine Immersion Technologies, also added 10,000 ETH tokens to its Ethereum treasury today, bringing its total holdings to 5,787,414 ETH and making it the largest corporate Ethereum holder worldwide.

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