Despite a recent price dip, mega whales continue to actively purchase Ethereum. Analysts highlight the growing interest from major investors.
Update on ETH Purchases
Blockchain analytics firm Arkham Intelligence reported a significant rise in ETH purchases by mega whales. One address accumulated $300 million worth of Ether through over-the-counter trading at Galaxy Digital, currently holding 79,461 ETH, worth around $282.5 million.
Increase in Ethereum Mega Whales
According to Glassnode, the number of addresses holding more than 10,000 ETH has surged by more than 200 since the beginning of July. These addresses include those held by exchanges and large custodians.
Ether Outlook for August
Ether prices dipped over the weekend, falling below $3,400 but showed signs of recovery on Monday, reclaiming $3,560. Experts note a tendency for Ether to be bearish in August, although it saw significant growth of 35.6% in August 2021.
Mega whales continue to accumulate Ethereum, indicating strong interest in the asset. Despite August fluctuations, experts see potential for price recovery.
