A crypto whale, which previously amassed over 100,000 BTC, is actively increasing its investments in Ethereum, already yielding significant profit.
Major Investments in Ethereum
On August 22, blockchain analytics firm Lookonchain flagged the activity of a well-known crypto whale that recently accumulated 62,914 ETH worth $270 million through spot purchases and opened a long position valued at $580 million equivalent to 135,265 ETH. This strategy, based on all indications, is not a one-off.
Rise of Ethereum Liquidity
According to CEX.io, Ethereum captured 32% of the total spot trading volume on major platforms in August, the highest figure since 2017. Most of this activity was driven by retail traders making numerous small orders, while institutional investors also increased their inflows.
Ethereum's Outlook vs Bitcoin
Capital flow data shows a stark contrast: Ethereum's net positions grew by 23% in August, while Bitcoin's fell by 43%. Analysts attribute this to a growing confidence in ETH amid recent comments by Federal Reserve Chair Jerome Powell about a likely rate cut.
The active investments in Ethereum by major players highlight the growing popularity and liquidity of the cryptocurrency, suggesting its potential resilience and appeal to traders.
