ETH Whale Buys $61M More Despite $126M Loss
A major ETH whale adds $61M worth of Ethereum, pushing total holdings to $1.29B, despite sitting on $126M in unrealized losses.
- Whale #66kETHBorrow added 19,508 ETH worth $61M.
- Total purchases since Nov 4 now exceed $1.29B.
- The whale is facing $126M in unrealized losses.
A high-profile Ethereum whale known as #66kETHBorrow has made another massive ETH purchase, acquiring 19,508 ETH worth approximately $61 million. This latest move brings the whale’s total ETH accumulation since November 4 to a staggering 405,238 ETH, with an average buying price of $3,489 per ETH.
Despite the bold accumulation strategy, the whale is currently sitting on unrealized losses of around $126 million, reflecting the risks of large-scale crypto investing in a volatile market. The current ETH price hovers below the whale’s average buy-in, but that hasn’t deterred this investor from continuing to bet big on Ethereum.
Over $1.29 Billion Invested in Ethereum
Since the beginning of November, this wallet has injected over $1.29 billion into Ethereum, showcasing a remarkable level of confidence — or perhaps a long-term investment strategy that disregards short-term price swings.
This level of purchasing power signals strong whale interest in Ethereum, possibly in anticipation of future bullish catalysts such as ETF approvals, Ethereum upgrades, or broader crypto market momentum.
What It Means for the Market
Large-scale ETH purchases often stir discussions among traders and analysts. While some view this as a bullish signal, others worry about the risks associated with centralized whale holdings and their potential impact on market liquidity.
With the crypto market prone to rapid swings, it remains to be seen whether this whale’s conviction will pay off. However, such massive investments continue to grab attention and influence sentiment across the Ethereum ecosystem.
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