Crypto Ethereum may soar following more accumulation by the whales

[Lens1000]

The ethereum whales were seen collecting additional ethereum. When the price of ethereum fell below $4,000, the purchase was made.

They managed to amass 0.5 percent of the total Eth supply on the Ethereum network. Within the last 12 days, 734,800 ETH have been accumulated.

We must not forget that ethereum occupy second on the cryptocurrency market table in terms of the market value. Despite the high gas fee associated with the ethereum blockchain, whales are spotted accumulating more of the coin. The Smart contract integrated into the ethereum blockchain makes it very unique.

Whales are known to purchase dips, and this is exactly what happened with the ethereum transaction. Whales purchased around 1.28 million ETH in the last 45 days, according to data.

What do you think about this?

 

[Shaf]

Most whales accumulate coins during dips and not before then. They usually wait for a significant dip in Bitcoin price which causes a market wide dip in the price of altcoins, or a dip in the price of the chosen coin or token.

In this case, we can see that the price of Ethereum was anticipated to rise even higher in the first quarter of 2022. Sadly, after reaching a high of over $4,800, prices of coins have been on a continuous downtrend to date including that of Ethereum.

Not all whales buy dips only though, they use DCA to even out their entry price, buying small amounts over time and even taking trades whenever they seem that it will be profitable.

To the average investor, Ethereum should be one of the coins to consider whether in cryptocurrency for short term profits, long term holding or even if it's just for the tech.