Crypto Whale Moves $110M Into Bitcoin and Ethereum, Bull Run Incoming?
- A major crypto whale has acquired $110 million worth of Bitcoin and Ethereum, boosting bullish market sentiment.
- The whale purchased 600 Bitcoin worth around $56.7 million through the OTC platform Wintermute.
- The whale also bought 30,000 Ethereum valued at approximately $54 million using a separate address.
A major crypto whale has recently acquired $110 million worth of Bitcoin and Ethereum, fueling bullish momentum across the crypto market. This massive purchase at higher prices creates investor confidence about an eventual, lengthy bull market run. Big market data shows investors continue accumulating flagship cryptocurrencies while maintaining strong market confidence.
Crypto Whale Buys 600 Bitcoin Boosting Confidence
The whale tracking data showed a major OTC exchange purchase of Bitcoin on Monday, April 28th. An 800 million-dollar transaction occurred when the whale bought 600 Bitcoins from OTC platform Wintermute for approximately 56.7 million dollars. Market observers recognized this transaction as an example of intense accumulation during a bullish market mood.
Bitcoin achieved spectacular weekly price growth, exceeding 7%, to reach $94,000 in the market. The price rise increased optimism among investors, who had positive expectations for market situations ahead. Market research showed that big Bitcoin account holders were entering the market at a steady pace.
According to analyst Ali Martinez, the Bitcoin ecosystem has witnessed more than 100 unidentified parties start holding at least 1,000 Bitcoins since January. This recent development strengthened the markets strongly positive attitude. The growth of strong holders led to Bitcoin accumulating at a level that approached a value of 1.
Source: X
Crypto Whale Fuels Strong Growth for Ethereum
The whale leader invested in Bitcoin and Ethereum by spending $54 million on 30,000 ETH through the OTC exchange Wintermute. The whale made a separate purchase of this amount through the Wintermute interface. The whales purchase strategies further enhanced the rising demand force, which drove Ethereum market values higher.
Weekly price action in Ethereum increased by over 9% as traders accelerated their movement towards reaching the $1,800 target. This strong market expansion drove traders and long-term investors to stay optimistic about Ethers future performance. Bitcoins growing transaction volumes further contributed to improving market attitudes toward Ethereum.
Market observers highlighted that participation in the Ethereum network continues to rise consistently among its ecosystem participants. The widening participation among users of the second-largest cryptocurrency was evidenced by increasing numbers of new and existing members during this time. The whales major buy made a great match with Ethereums strengthening fundamentals and positive price direction.
Read more: https://www.tronweekly.com/crypto-whale-moves-110m-into-bitcoin-and-eth/
Text source: TronWeekly
