Diamond Hand Ethereum Whale Moves 15,000 ETH, Here’s The Destination

A “Diamond Hand” Ethereum (ETH) whale has out of the blue emerged, transferring an enormous 15,000 ETH token to a significant alternate. Given the sheer dimension of the transaction, this whale has caught the eye of many Ethereum traders and the broader crypto neighborhood.

Diamond Hand Whale Strikes 15,000 ETH Tokens

Spot On Chain, a blockchain analytics platform, revealed on September 22 in an X (previously Twitter) post that an nameless Diamond hand whale had transferred 15,000 ETH valued at $38.4 million from their pockets tackle “0x682” to Kraken, one of many world’s largest crypto exchanges. 

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A Diamond hand whale is a time period basically used to explain merchants or traders who HODL their cash, shares, bonds, silver or bonds for an in depth interval with out plans to promote, regardless of how a lot the worth of the token adjustments or the market fluctuates. 

Information from Spot On Chain has revealed that this nameless Diamond whale had initially carried out two ETH deposits into Kraken, each exceeding $30 million. Coincidentally, these two transactions occurred simply earlier than the value of Ethereum skilled a decline. 

The primary transaction noticed the whale transfer 10,000 ETH tokens, value about $34.2 million to Kraken on July 25, simply earlier than the value of Ethereum fell by 7.6%. Within the second transaction which occurred on August 20, the diamond hand whale deposited 15,000 ETH, valued at $39.7 million on the time. This substantial ETH transaction had occurred simply earlier than a 2.5% lower in Ethereum’s value.

Following this pattern, it seems that this explicit whale’s ETH deposits could have been fastidiously calculated and strategic, executing transactions simply earlier than a value lower to keep away from a loss. Furthermore, the whale’s actions might supply precious insights, probably signaling an impending decline within the value of Ethereum. 

At present, the diamond hand whale holds 26,639 ETH tokens, value roughly $69.7 million, with an estimated complete revenue of $132 million. This huge revenue represents a powerful achieve of over 86%. 

Replace On Ethereum Worth Evaluation

The value of Ethereum has been comparatively steady in latest weeks, experiencing modest positive factors after guaranteeing an in depth interval of serious bearish exercise. In keeping with CoinMarketCap’s knowledge, ETH is buying and selling at $2,640, reflecting a 1.93% enhance within the final week and a powerful 13.43% surge over the previous seven days. 

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Notably, Ethereum’s bullish momentum has sparked optimism amongst analysts. A outstanding crypto analyst recognized as ‘Crypto Patel’ on X has set formidable value targets for Ethereum, predicting that the cryptocurrency might witness a surge between $5,500 to $6,000. 

He recognized the most effective accumulation zone for traders as between $2,500 to $2,100. Moreover, the analyst shared his long-term goal for ETH, forecasting that the cryptocurrency might expertise a value breakout from $8,000 to $10,000.

Featured picture created with Dall.E, chart from Tradingview.com