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Correction in Progress for Ethereum: Whales Stock Up Before Explosion!

Tue 12 Dec 2023 ▪ 3 min of reading ▪ by Fenelon L.
Getting informed Altcoins

As Ethereum’s price dropped by more than 5% this Monday, some strategic investors see it as a golden opportunity to accumulate more ETH at advantageous costs.

A whale swallows an Ethereum coin

Ethereum Whales Accumulate Even More

In the context of a generalized decline of more than 5% over the last 24 hours, Ethereum (ETH) has undergone a significant correction. Rather than succumbing to panic, investors demonstrate impressive resilience by capitalizing on the lower prices.

According to data from Lookonchain, an astute whale just transferred 55 million USDT to Binance, signaling a clear intention to buy more $ETH during this slowdown period.

This strategic move is not isolated, as the same whale, originally a fan of swing trading on ETH, had sold a significant amount of tokens in November. After a one-month hiatus, this smart whale is returning to the market, suggesting a long-term vision and renewed confidence in Ethereum’s upward trajectory.

These deliberate actions by institutional investors indicate a careful analysis of the market and optimism about Ethereum’s recovery capacity.

A Temporary Correction That Does Not Undermine Fundamentals

In another positive note, DWF Labs, a major player in the crypto market, recently revealed its largest ETH accumulation over the past two months.

In a clear tactical move, DWF Labs transferred no less than 280 ETH ($626,000) from the Bitfinex platform, just a few hours ago, revealing its solid commitment to a long-term holding strategy for the Ethereum token.

This strategic accumulation emphasizes the continued confidence of major market players in the long-term stability of Ethereum, even during periods of temporary correction.

In the meantime, several analyses predict that Ethereum, at its current price, remains undervalued relative to its solid fundamentals and the current trend on the crypto market, largely dominated by Bitcoin.

In conclusion, these positive elements, however, should not make us forget the inherent risks of cryptocurrencies. As the well-known saying goes: “Never invest more than you are willing to lose”.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.