A notable crypto whale, previously known for shorting Bitcoin during the LUNA/UST collapse, has made a significant investment in Ethereum. According to data from Arkham Intelligence, the whale acquired 4,192 ETH, spending $10.43 million, with an average purchase price of $2,490 per ETH.
This strategic move indicates a bullish stance on Ethereum. The purchased ETH was subsequently staked on Lido and RocketPool, two of the leading decentralized finance (DeFi) platforms. Staking on these platforms allows the whale to earn rewards and potentially increase their holdings.
The whale's transition from shorting Bitcoin to going long on Ethereum highlights shifting sentiments within the crypto market. The choice of staking on renowned DeFi platforms reflects confidence in Ethereum’s ecosystem and its potential future growth.
Such actions by large investors often influence market trends, sparking interest and recalibration among other market participants. The move could be seen as a positive indicator for Ethereum's long-term prospects.
