Whales Split on Ethereum: Profit-Takers Sell as Bitmine Bets Big With $113 Million Buy
Ethereum whales show divided sentiment, with an ICO participant taking profit while Bitmine buys $113 million, signaling contrasting market views.Summary
Major Ethereum holders are exhibiting sharply contrasting behaviors, highlighting a split in market sentiment. One early Ethereum ICO participant moved 1,500 ETH, worth about $6 million, to Kraken after eight years, realizing a 12,971x return on their initial $0.30 investment. Despite this profit-taking, institutional accumulation continues, with Fundstrat-linked Bitmine purchasing an additional $113 million in ETH, bringing its total holdings to $13.3 billion, nearly 1% of the total supply. Furthermore, some whale traders have demonstrated precise bottom-buying, netting significant profits, while others are aggressively shorting the asset. This divergence between profit-taking, massive institutional accumulation, and speculative shorting suggests Ethereum is at a pivotal point with conflicting outlooks among major players.
(Source：BeInCrypto)