COINOTAG News reported on December 7th that a new Ethereum address, beginning with 0x29F, has rapidly accumulated 5543 ETH over a span of just six days, translating to an impressive $20.76 million USD. This acquisition was made at an average cost of $3744 USD per ETH, leading to an unrealized profit of $1.36 million USD. In a notable move, after the price of ETH surpassed $4000 USD, the same address executed a withdrawal of 1543 ETH from Binance, amounting to approximately $6.18 million USD.
This accumulation strategy highlights a significant bullish sentiment in the market, particularly as Ethereum showcases its resilience and growth potential. Market analysts will be monitoring how these substantial holdings may influence future trading strategies and overall market momentum. The pronounced activity around this address reflects a growing trend among investors looking to capitalize on Ethereum’s evolving landscape.
Source: https://en.coinotag.com/breakingnews/massive-eth-accumulation-new-address-collects-5543-eth-worth-20-76-million-in-just-6-days/