The downtrend in Bitcoin and altcoins continues. This decline is driving some investors to panic sell, while others, seeing the decline as an opportunity, are buying at a lower price.
At this point, whales are frantically buying Ethereum (ETH).
According to Lookonchain’s post, despite the sharp decline in the ETH price, whales are taking advantage of this opportunity and buying ETH at a lower price.
Accordingly, Lookonchain first said that 15 wallets purchased 406,117 ETH worth $1.6 billion from Kraken, GalaxyDigital, BitGo, and FalconX in the last two days.
An OTC whale also purchased 60,333 ETH worth $238.7 million at an average price of approximately $4,230 over the last seven days. This whale has a loss of over $16 million.
While whales are buying nearly $2 billion, taking advantage of the drop in ETH, other whales are also buying XPL.
According to Lookonchain’s post, one whale sold HYPE and bought $7.9 million worth of XPL, while two whales bought $12.2 million worth of XPL.
“Whales are buying XPL.
0x8393 sold 249,999 HYPE (worth $10.5 million) and bought 7.92 million XPL.
0xcc07 deposited 6.27M USDC into Hyperliquid and bought 5.28M XPL at $1.19.
0xF555 deposited 6M USDC into Hyperliquid and bought 5.7M XPL at $1.05.”
*This is not investment advice.