Ethereum Whales Accumulate Long Positions Worth $426 Million
- Ethereum whales have opened leveraged long positions totaling $425.98 million.
- The ETH/USD pair is currently trading at $3,140, a rise of over 20% from the November low of $2,621.
- Key whale players include BitcoinOG with a long position of $169 million and Anti-CZ with $194 million in ETH.
- A third whale, pension-usdt.eth, holds a long position of approximately $62.5 million in ETH.
- BitMine has increased its holdings by adding another $199 million in ETH, now totaling approximately $13.3 billion.
These significant investments indicate strong confidence among large investors in the Ethereum market as it rebounds above the critical $3,000 level. The price action suggests potential for further growth towards an estimated target of around $4,030 if upward momentum continues.
With whales collectively holding positions worth nearly half a billion dollars, Ethereum’s price could reach breakout levels if it surpasses resistance at around $3,250.(Source)
