Whale Activity Fuels Ethereum Rally: Insights into Recent Buying Trends

On-chain data analysis reveals a surge in activity from prominent altcoin whales during the recent Ethereum rally. Lookonchain reports that a large whale increased their ETH holdings by adding $8.88 million worth of USDC to their position, significantly boosting their overall stake and unrealized profit. Additionally, institutional investors like Abraxas Capital have also been accumulating substantial amounts of ETH on exchanges Binance and Kraken. These whales recently moved over 49,644 ETH worth $92 million, highlighting sustained interest in the cryptocurrency.