{"id":365276,"date":"2025-02-03T16:31:33","date_gmt":"2025-02-03T11:01:33","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=365276"},"modified":"2025-02-03T16:31:33","modified_gmt":"2025-02-03T11:01:33","slug":"ethereum-whale-buys-14-5m-eth-in-recent-market-dip-price-recovery-imminent-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-whale-buys-14-5m-eth-in-recent-market-dip-price-recovery-imminent-crypto-news\/","title":{"rendered":"Ethereum Whale Buys $14.5M ETH In Recent Market Dip; Price Recovery Imminent? – Crypto News"},"content":{"rendered":"

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The crypto market is experiencing a downward push, with its market cap down by 7.6%, currently at $3.12 trillion. Top altcoins including ETH are crashing, aligning with broader market trends. Meanwhile, a savvy Ethereum whale has taken advantage of the current market dip, investing millions in ETH in a strategic \u201cbuy the dip\u201d move.<\/p>\n

Ethereum Whale Utilizes Buy The Dip Strategy<\/h2>\n

According to a recent X post<\/a> shared by on-chain analytics platform Lookonchain, an Ethereum whale called \u201c7 Siblings\u201d acquired 5,382 ETH, worth $14.5 million.<\/p>\n

The giant ETH whale purchased a total of 50,429 ETH, equivalent to $126M within a single day. \u00a0In a post shared earlier today, Lookonchain revealed 7 Sibling\u2019s massive purchase of 45,047 ETH, worth $111.72 million. The purchase was marked at an average price of 2,480 per coin.<\/p>\n

Whale Targets Market Crash: More Buys Ahead?<\/h2>\n

Notably, the last major purchase of $ETH by the 7 Siblings occurred on August 6, 2024. The whale bought them at the bottom of the market following a crash. Thus, it is speculated that the Ethereum whale is utilizing the \u201cbuy the dip\u201d strategy.<\/p>\n

The Ethereum price still lingering near its multi-month low of $2,500. So, there\u2019s a possibility for the 7 Siblings to continue accumulating more ETH. Analysts like Mister Crypto state that \u201cthis is the worst time to be bearish on Ethereum.\u201d Thus, the community is less optimistic about an imminent rebound.<\/p>\n

Coinciding with 7 Siblings\u2019 buy-the-dip move many Ethereum whales and ETH holders have been utilizing the market crash. This is evident from the 264% rise in the daily trading volume, which is currently marked at $84.96 billion.<\/p>\n

It\u2019s noteworthy that the 7 Siblings\u2019 ETH purchase came after another Ethereum whale made substantial profits by short-selling ETH with 50x leverage<\/a>.<\/p>\n

Ethereum Crashes to Multi-Month Lows<\/h2>\n

As of press time, Ethereum price<\/a> is at a price of $2,577.76, with a notable decline of 17% over the last 24 hours. While the token experienced a plummet of 16% in a week, ETH faced a massive dip of 28% in a month.<\/p>\n

Commenting on the downward trend of Ethereum, Bitcoin enthusiast Justin Bechler stated that the cryptocurrency is dying. Another prominent analyst known on X as Crypto_Twittier explained the prevailing \u201chuge buying opportunity,\u201d as Ethereum dropped to a multi-year support level. However, the analyst confirmed that the altcoin could retest the support in the coming weeks.<\/p>\n

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Nynu V Jamal <\/p>\n<\/p><\/div>\n

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content. <\/p>\n<\/p><\/div>\n

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n

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The crypto market is experiencing a downward push, with its market cap down by 7.6%, currently at $3.12 trillion. Top altcoins including ETH are crashing, aligning with broader market trends. Meanwhile, a savvy Ethereum whale has taken advantage of the current market dip, investing millions in ETH in a strategic \u201cbuy the dip\u201d move. Ethereum […]<\/p>\n","protected":false},"author":2,"featured_media":365280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-365276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=365276"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365276\/revisions"}],"predecessor-version":[{"id":365284,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365276\/revisions\/365284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/365280"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=365276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=365276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=365276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}