According to crypto analysis firm IntoTheBlock, Ethereum 
$2,631 Whales purchased a net 1.7 million ETH in the past month. This indicates the accumulation of a large amount of ETH by whales. This intense buying movement of whales is considered a positive sign for the future of the market.
Ethereum Whales
According to IntoTheBlock data, in the last 30 days, Ethereum whales recorded only three days of net outflow. During this time, whales purchased another 175,000 ETH, especially in the last two days. These exchanges show whales’ increasing interest and trust in Ethereum.
“This reflects the strong accumulation behavior of large investors and their confidence in the future of Ether.” -IntoTheBlock
This comment reveals that whales believe in Ethereum’s long-term potential. ETH is currently trading at $2,640. This intense buying movement of Ethereum whales should be evaluated together with the general dynamics of the market. The behavior of major investors often provides clues about the future direction of the market. Therefore, these positive phenomena on Ethereum could also be promising for the overall crypto ecosystem.
Cryptocurrencies Are Rising
Bitcoin 
$67,945 IntoTheBlock states that market sentiment tends to “explode”. Currently, 95% of BTC addresses are profitable. At the time of writing, BTC is trading at $68,371 and is up about 1.5% in the last 24 hours. Weekly gains are over 12 percent. BTC made a good start to the weekend with the influence of the good news in the last 24 hours and the expectation of a rise in the last quarter.
As a result, the increasing interest of whales in Ethereum is also an important signal for investors. Such large purchases often provide positive indicators of the overall health of the market and its growth potential. Investors can shape their strategies by evaluating this data.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
