On January 2nd, data from COINOTAG reveals significant activity within the cryptocurrency market, notably involving institutional players. A notable whale has been observed surging its holdings by acquiring 40,000 ETH on December 30, 2024, underscoring the persistent interest in Ethereum despite market fluctuations. In a development that reflects the dynamic nature of digital assets, this institutional investor has also procured an additional 329 WBTC over the last seven hours, averaging an impressive price of $94,209 per WBTC—totaling around $31 million. This concentrated accumulation signals robust demand and may impact market liquidity, as institutions increasingly turn to hybrid assets like WBTC in their portfolios. Traders and analysts should monitor these movements closely, as they can foreshadow broader market trends and appetite for altcoins.
Source: https://en.coinotag.com/breakingnews/whale-accumulation-alert-40000-eth-and-329-wbtc-acquired-at-94209-each/