Whale Purchases $34M Worth of Ethereum

Whale Purchases $34M Worth of Ethereum

A large purchase of $34 million in Ethereum (8,109 ETH at $4,193 each) by wallet 0x3684 has been confirmed. This acquisition, tracked by on-chain analysts, follows previous significant purchases totaling 21,571 ETH worth $84 million.

The transaction could pressure ETH prices upward and suggest continued bullish momentum. The $34 million purchase from Binance highlights significant interest from unknown players, influencing market dynamics owing to reduced exchange liquidity.

A whale executed a $34M Ethereum purchase, equating to 8,109 ETH at $4,193. The transaction was conducted by wallet 0x3684, a known player with a history of large ETH acquisitions .

The wallet, possibly linked to SharpLink Gaming, has aggressively acquired ETH recently. This activity has drawn attention due to its potential market implications.

The purchase affects ETH liquidity on Binance, as the withdrawal reduces available ETH on the platform. Market dynamics may shift, supporting ETH price increases as supply tightens.

No regulatory body, including the SEC or CFTC, has issued updates. The continuous acquisition by whales indicates strong confidence in Ethereum’s future prospects.

Analysts observe correlation between whale activity and price trends, suggesting a potential rally. Prior patterns include significant ETH acquisitions, often followed by upward price adjustments.

Arthur Hayes, Former CEO, BitMEX, stated, “I had to buy back all the ETH and vowed never to stop taking profits again” ( source ).