Data analysis shows that large investors, known as 'whales,' are actively purchasing ETH tokens even after the recent price drop.
Data on Large Transactions
According to analytics platform Lookonchain, a newly created wallet has received a total of 24,294 ETH tokens (approximately $86 million) from digital asset broker FalconX over the last 24 hours. Another whale received 15,627 ETH tokens (around $57 million) from an over-the-counter wallet linked to Galaxy Digital.
ETH Price Correction
On August 3, the price of ETH dropped to $3,354, marking the lowest level since July 17. The token fell by 15% within just a week. This correction was exacerbated by recent stock market declines driven by disappointing jobs data. Nevertheless, the recent buying spree indicates that whales are still interested in ETH.
Corporate Interest in ETH
In addition to the actions of whales, ETH is also attracting interest from corporate investors. SharpLink Gaming has acquired an additional 18,680 tokens for an estimated $67 million. This emerging company aims to establish itself within the Ethereum ecosystem and now holds approximately $1.81 billion worth of ETH tokens.
Thus, despite the recent price correction, the interest from large investors and companies in ETH continues to grow, indicating confidence in the token's future.
