Ethereum Whale Loads Up: $422M In ETH Bought In Under a Month
Summary
Ethereum experienced significant volatility, dropping to $2,100 due to geopolitical tensions following a US attack on Iranian nuclear facilities. The situation improved with reports of a ceasefire between Iran and Israel, leading to a rebound above $2,400, reflecting renewed market optimism. A major institutional entity purchased $8.91 million in ETH, adding to a total of $422 million acquired over three weeks, indicating strong long-term conviction. Despite the rebound, concerns about a potential US recession and high Treasury yields persist, which could impact risk assets. Optimism remains regarding a possible altseason led by Ethereum, with whale accumulation potentially supporting higher prices if macro conditions stabilize.
