A “Diamond Hand” Ethereum (ETH) whale has immediately emerged, transferring a large 15,000 ETH token to a serious change. Given the sheer dimension of the transaction, this whale has caught the eye of many Ethereum buyers and the broader crypto neighborhood.
Diamond Hand Whale Moves 15,000 ETH Tokens
Spot On Chain, a blockchain analytics platform, revealed on September 22 in an X (previously Twitter) post that an nameless Diamond hand whale had transferred 15,000 ETH valued at $38.4 million from their pockets handle “0x682” to Kraken, one of many world’s greatest crypto exchanges.
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A Diamond hand whale is a time period basically used to explain merchants or investors who HODL their cash, shares, bonds, silver or bonds for an intensive interval with out plans to promote, irrespective of how a lot the worth of the token adjustments or the market fluctuates.
Data from Spot On Chain has revealed that this nameless Diamond whale had initially carried out two ETH deposits into Kraken, each exceeding $30 million. Coincidentally, these two transactions occurred simply earlier than the value of Ethereum skilled a decline.
The first transaction noticed the whale transfer 10,000 ETH tokens, price about $34.2 million to Kraken on July 25, simply earlier than the value of Ethereum fell by 7.6%. In the second transaction which occurred on August 20, the diamond hand whale deposited 15,000 ETH, valued at $39.7 million on the time. This substantial ETH transaction had occurred simply earlier than a 2.5% lower in Ethereum’s value.
Following this pattern, it seems that this specific whale’s ETH deposits might have been rigorously calculated and strategic, executing transactions simply earlier than a value lower to keep away from a loss. Moreover, the whale’s actions might supply invaluable insights, doubtlessly signaling an impending decline in the price of Ethereum.
Currently, the diamond hand whale holds 26,639 ETH tokens, price roughly $69.7 million, with an estimated complete revenue of $132 million. This massive profit represents a formidable achieve of over 86%.
Update On Ethereum Price Analysis
The price of Ethereum has been comparatively secure in latest weeks, experiencing modest good points after guaranteeing an intensive interval of serious bearish exercise. According to CoinMarketCap’s information, ETH is trading at $2,640, reflecting a 1.93% improve within the final week and a formidable 13.43% surge over the previous seven days.
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Notably, Ethereum’s bullish momentum has sparked optimism amongst analysts. A distinguished crypto analyst recognized as ‘Crypto Patel’ on X has set bold value targets for Ethereum, predicting that the cryptocurrency might witness a surge between $5,500 to $6,000.
He recognized one of the best accumulation zone for buyers as between $2,500 to $2,100. Furthermore, the analyst shared his long-term goal for ETH, forecasting that the cryptocurrency might expertise a price breakout from $8,000 to $10,000.
Featured picture created with Dall.E, chart from Tradingview.com
