Ethereum Whale Stacks $1.3b In Eth, Fueling $4k Recovery Hopes

Unknown whales continue to increase their Ethereum exposure as technical indicators suggest a short-term ETH price rally to $4,000.

Despite the Ether (ETH) price drawdowns, whales continue to buy hundreds of thousands of ETH, sparking hopes for a short-term recovery.

An Ethereum whale increases stash to $1.3 billion in ETH, signaling accumulation.

Whales, BitMine and ETFs add billions of dollars in ETH, reinforcing bullish demand.

V-shaped recovery pattern emerges, targeting $4,000 ETH price.

Responding to the market correction over the last week, Ether whales took advantage of the ETH price drop to $3,000.

An unknown whale has accumulated more than 385,000 ETH worth $1.38 billion over the past 10 days, according to data from Arkham Intelligence.

Related: Institutions must stake Ether on decentralized infrastructure

“This whale currently owns $563.9M of ETH directly through spot holdings as well as $818.7M in a loan position on AAVE,” the blockchain analytics platform said in a Wednesday  post on X, adding:

The whale has also borrowed $270 million of stablecoins from the decentralized lending platform Aave to potentially expand its ETH position, Arkham Intelligence added.

Source: CoinTelegraph