The post Ethereum Whale Buys $5.2M of ETH Post-Breakout, Eyes on $2,800 appeared on BitcoinEthereumNews.com.

It appears that Ethereum (ETH) is ready to take off, as investors’ and traders’ interest has skyrocketed in the past few days. On September 19, 2024, the on-chain analytic firm Lookonchain posted on X (Previously Twitter) that Ethereum Whale made a big bet by purchasing 2,117.7 ETH worth $5.17 million as the price surged. Ethereum Whale Big Bet Amid Price Rally According to the data, this whale is long on ETH through circular borrowing. The data also shows that this whale had liquidated a substantial 6,078 ETH worth $14.7 million when the overall market crashed on August 5, 2024.  A whale bought 2,117.7 $ETH($5.17M) after the $ETH price rose and went long on $ETH through circular borrowing again! He was also liquidated for 6,078 $ETH($14.7M) when the price plummeted on Aug 5! In the past 6 months, he lost $13M by going long on $ETH! He went long on $ETH… pic.twitter.com/URz01cfUv1 — Lookonchain (@lookonchain) September 19, 2024 Additionally, in the past six months, the whale went long ETH five times and liquidated four times, resulting in a loss of over $13 million. It appears that this time, due to the recent breakout and growing interest from investors and traders, the whale may recover all of their losses.  Ether Price Performance and Whale’s Recent Activity Besides this whale’s massive purchase, on September 18, 2024, another whale bought 5,660 ETH worth $13.1 million at an average price of $2,316 level, as reported by CoinPedia. This data shows that whales have started accumulating ETH, indicating that a major rally may be imminent. Currently, ETH is trading near $2,470 and has experienced a price surge of over 6% in the last 24 hours. During the same period, its trading volume increased by 16%, indicating higher participation from traders and investors amid ongoing price rallies.…

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Filed under: News - @ September 19, 2024 11:23 pm