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“The Diamond Hand” Ethereum (ETH) is a whale appeared suddenly, transferring a large token of 15,000 ETH to a large exchange. Given the magnitude of the transaction, this whale has caught the attention of many Ethereum investors and the wider crypto community.
Diamond Hand Whale Delivers 15,000 ETH Tokens
Spot On Chain, a blockchain analytics platform, unveiled on September 22 at X (formerly Twitter) posted that an anonymous Diamond hand whale transferred 15,000 ETH worth $38.4 million from his wallet address “0x682” to. The Krakenwhich is one of the largest crypto exchanges in the world.
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Diamond hand whale is a term used to describe traders or HODL investors their coins, shares, bonds, silver or bonds for a long time without plans to sell, regardless of whether the value of the token changes or the market fluctuates.
Data from Spot On Chain revealed that this anonymous Diamond whale had made two ETH deposits in Kraken, both of which were over $30 million. Coincidentally, these two transactions happened just before the price of Ethereum experienced a decline.
The first transaction saw the whale move 10,000 ETH tokens, worth about $34.2 million to Kraken on July 25, just before the price of Ethereum dropped by 7.6%. In the second transaction that took place on August 20, the diamond hand whale deposited 15,000 ETH, which was worth $39.7 million at the time. This huge ETH transaction happened just before the Ethereum price dropped by 2.5%.
Following this practice, it seems that this is especially true whale ETH deposit It is likely to be calculated carefully and with a plan, making operations just before the price reduction to avoid losses. In addition, the whale’s actions can provide important insight, which may be a sign the upcoming Ethereum price drop.
Currently, the diamond hand whale holds 26,639 ETH tokens, worth about $69.7 million, with an estimated profit of $132 million. This great benefit it represents an impressive gain of over 86%.
Exchange shares Ethereum Price Analysis
I Ethereum price has been stable in recent weeks, making modest gains after confirming most of the period of significant bearish activity. According to CoinMarketCap data, ETH is trading at $2,640showing an increase of 1.93% in the last week and an impressive increase of 13.43% in the last seven days.
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Notably, The highest value of Ethereum caused optimism among analysts. A prominent crypto analyst identified as ‘Crypto Patel’ on X has set price targets for Ethereum, prediction that the cryptocurrency could see a rise between $5,500 to $6,000.
He identified the best place to raise investors between $2,500 to $2,100. In addition, the analyst shared his long-term goals for ETH, predicting that the cryptocurrency could be profitable. exit price from $8,000 to $10,000.
The featured image was created with Dall.E, a chart from Tradingview.com