Ethereum Whale Stacks $39M in ETH Despite Ether Falling Harder Than Bitcoin
A high net worth Ethereum trader has acquired approximately 9,400 ETH, valued at around $39 million, despite a market downturn influenced by escalating Middle East tensions. This purchase increased the trader's total Ether holdings to $330 million. Ether's price fell about 12.80% to $2,155, underperforming Bitcoin, which dropped 4.70%. The decline coincided with reports of a US military strike on Iran amid the Israel-Iran conflict. The trader's actions indicate a long-term "buy the dip" strategy, supported by data showing increased net positions among Ethereum wallets holding 10,000 ETH or more. On June 21, these wallets accumulated over 116,893 ETH worth $265.30 million. Market analysts suggest that Ether may rebound by 25%, potentially reaching the $2,735 resistance level, based on historical support patterns.
