Whale Investors Keep Buying ETH Amid Price Decline: A Strategic Bet on the Bottom
The cryptocurrency market is under downward pressure; even Ethereum (ETH) cannot escape the broader market trend. Not only is the price in decline, but the ETH/BTC exchange rate recently dipped to a worrisome 0.02 mark. But a group of major market players—known as the "7 Siblings"—has not only continued to invest in Ethereum but has also significantly ramped up its buying of the digital asset. These market whales see current prices as an opportunity to load up on the second-largest cryptocurrency by market cap, with the belief that prices will eventually rebound. Whales Continue to Build Ethereum Position Despite Market Downturn Over the past 10 hours, 7 Siblings spent a colossal $42.66 million in USDC buying 25,102 ETH at an average price of $1,700. This fresh pile of Ethereum joins an already immense position, taking their total up to more […]