While the sharp declines in Bitcoin and altcoins caused investors to suffer major losses, some investors also turned the recent decline into an opportunity.
At this point, while Ethereum (ETH) experienced one of the biggest declines, whales who took advantage of this decline did not neglect to buy.
According to Lookonchain’s post, a whale that was successful in finding the bottom has made a purchase again.
Accordingly, the whale, which made purchases during the big decline in August 2024 and has over $1 billion worth of cryptocurrency in its portfolio, bought a large amount of ETH today.
A wallet called 7 Siblings purchased 50,429 ETH worth a total of $126 million today.
“A wallet called 7 Siblings purchased 5,382 ETH (worth $14.5 million).
7 Brothers purchased a total of 50,429 ETH ($126 million) today.
The last time 7 Siblings bought a large amount of ETH at the bottom was August 6, 2024, when the market crashed.”
Ethereum continues to trade at $2,570 at the time of writing.
Another wallet of “7 Siblings” bought 5,382 $ETH($14.5M).
7 Siblings bought a total of 50,429 $ETH($126M) today.
The last time 7 Siblings bought a large amount of $ETH at the bottom was on Aug 6, 2024, when the market crashed.https://t.co/BSIe7tIJUy pic.twitter.com/dC3ej4vSQA
— Lookonchain (@lookonchain) February 3, 2025
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/what-did-whales-do-during-bitcoins-sharp-drop-the-whale-that-was-successful-in-finding-the-bottom-bought-this-altcoin-again/