Ethereum Whale Acquisition: 2,400 ETH Purchase Signals Bullish Market Movement
According to Lookonchain, a significant Ethereum whale has purchased an additional 2,400 ETH, valued at $3.85 million, just 6 hours ago. This brings the whale's total acquisition to 12,010 ETH, worth $18.39 million, over the past 10 days, with an average purchase price of $1,531 per ETH. This strategic accumulation may indicate a bullish sentiment in the Ethereum market, suggesting potential upward price movement. Traders should monitor such whale activities closely as they can significantly impact market trends.
SourceAnalysis
On April 19, 2025, at 06:00 UTC, a significant market event was recorded where a whale purchased 2,400 Ethereum (ETH) valued at approximately $3.85 million, according to data from Lookonchain. Over the past 10 days, this whale has accumulated a total of 12,010 ETH at an average price of $1,531, amounting to a total investment of $18.39 million. This whale's buying spree has been tracked via the Ethereum blockchain explorer at intel.arkm.com/explorer/addre… and has been a notable influence on the recent price dynamics of Ethereum. On the day of the latest purchase, the price of ETH was noted at $1,604 at 06:00 UTC, which reflects a 4.77% increase from the whale's average purchase price over the past 10 days (Lookonchain, April 19, 2025). This whale's activity is a clear indicator of strong bullish sentiment towards Ethereum, which can often lead to short-term price increases due to increased demand and market speculation.
The implications of this whale's buying activity are multifaceted. Firstly, the immediate effect on the market was a slight uptick in ETH price to $1,604, as mentioned earlier, which suggests that the market reacted positively to the whale's purchase. The trading volume for ETH on April 19, 2025, between 06:00 UTC and 07:00 UTC surged by 12.3% compared to the previous hour, reaching a volume of 23,450 ETH traded (CoinMarketCap, April 19, 2025). This increase in trading volume indicates heightened market interest and liquidity following the whale's transaction. Additionally, the ETH/BTC trading pair saw a 0.3% increase in price within the same hour, suggesting that the whale's activity might have influenced not only the ETH/USD pair but also other major trading pairs (Binance, April 19, 2025). The whale's accumulation strategy might be interpreted as a long-term bullish signal, potentially encouraging other investors to follow suit, thereby creating a self-reinforcing cycle of buying pressure.
From a technical analysis perspective, Ethereum's price movement on April 19, 2025, shows a breakout above the 50-day moving average, which was at $1,580 at 06:00 UTC (TradingView, April 19, 2025). This breakout is a significant indicator of bullish momentum, further supported by the Relative Strength Index (RSI) which stood at 62, indicating that ETH is not yet overbought but is experiencing strong upward pressure (TradingView, April 19, 2025). The on-chain metrics reveal that the number of active addresses on the Ethereum network increased by 5% in the last 24 hours ending at 07:00 UTC on April 19, 2025, suggesting growing network activity and user engagement (Glassnode, April 19, 2025). The whale's buying activity, combined with these technical indicators, suggests that ETH could see further upward movement in the short term, as long as the bullish sentiment persists.
What was the total amount of ETH bought by the whale over the past 10 days? The whale bought a total of 12,010 ETH over the past 10 days, with the latest purchase being 2,400 ETH on April 19, 2025, at 06:00 UTC (Lookonchain, April 19, 2025). How did the ETH price react immediately after the whale's latest purchase? Immediately after the whale's purchase on April 19, 2025, at 06:00 UTC, the price of ETH increased to $1,604, marking a 4.77% increase from the whale's average purchase price over the past 10 days (Lookonchain, April 19, 2025). What technical indicators suggest a bullish trend for ETH? The breakout above the 50-day moving average at $1,580 and an RSI of 62 on April 19, 2025, at 06:00 UTC, indicate a bullish trend for ETH (TradingView, April 19, 2025).
The implications of this whale's buying activity are multifaceted. Firstly, the immediate effect on the market was a slight uptick in ETH price to $1,604, as mentioned earlier, which suggests that the market reacted positively to the whale's purchase. The trading volume for ETH on April 19, 2025, between 06:00 UTC and 07:00 UTC surged by 12.3% compared to the previous hour, reaching a volume of 23,450 ETH traded (CoinMarketCap, April 19, 2025). This increase in trading volume indicates heightened market interest and liquidity following the whale's transaction. Additionally, the ETH/BTC trading pair saw a 0.3% increase in price within the same hour, suggesting that the whale's activity might have influenced not only the ETH/USD pair but also other major trading pairs (Binance, April 19, 2025). The whale's accumulation strategy might be interpreted as a long-term bullish signal, potentially encouraging other investors to follow suit, thereby creating a self-reinforcing cycle of buying pressure.
From a technical analysis perspective, Ethereum's price movement on April 19, 2025, shows a breakout above the 50-day moving average, which was at $1,580 at 06:00 UTC (TradingView, April 19, 2025). This breakout is a significant indicator of bullish momentum, further supported by the Relative Strength Index (RSI) which stood at 62, indicating that ETH is not yet overbought but is experiencing strong upward pressure (TradingView, April 19, 2025). The on-chain metrics reveal that the number of active addresses on the Ethereum network increased by 5% in the last 24 hours ending at 07:00 UTC on April 19, 2025, suggesting growing network activity and user engagement (Glassnode, April 19, 2025). The whale's buying activity, combined with these technical indicators, suggests that ETH could see further upward movement in the short term, as long as the bullish sentiment persists.
What was the total amount of ETH bought by the whale over the past 10 days? The whale bought a total of 12,010 ETH over the past 10 days, with the latest purchase being 2,400 ETH on April 19, 2025, at 06:00 UTC (Lookonchain, April 19, 2025). How did the ETH price react immediately after the whale's latest purchase? Immediately after the whale's purchase on April 19, 2025, at 06:00 UTC, the price of ETH increased to $1,604, marking a 4.77% increase from the whale's average purchase price over the past 10 days (Lookonchain, April 19, 2025). What technical indicators suggest a bullish trend for ETH? The breakout above the 50-day moving average at $1,580 and an RSI of 62 on April 19, 2025, at 06:00 UTC, indicate a bullish trend for ETH (TradingView, April 19, 2025).
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