Ethereum Whales Accumulated Over $800M of ETH This Week

Ethereum took a major step towards regaining the $2,000 zone today, on March 14.

Ethereum took a major step towards regaining the $2,000 zone today, March 14. On this date, Ether (ETH) gained 2.65% over the last 24 hours. At its highest point in the day, Ether traded as high as $1,943. Meanwhile, at this time of writing the asset is valued at $1,910.

Much like the rest of the cryptocurrency market, Ethereum faced extreme selling pressure since the end of February. Currently, the world’s second-largest cryptocurrency is down by 10.7% over the week, amassing a whopping 30.16% decrease in value over the last 30 days.

Amidst the decrease in value, investors are wondering at what point will Ether consolidate a bottom. While it is still too early to confirm that assumption, recent activity from cryptocurrency whales suggests a potential rebound in the near future.

Crypto Whales Accumulate After The Dip

A recent analysis shared by Ali Charts on Twitter revealed that cryptocurrency whales have been accumulating an enormous amount of Ether this week. According to the post, these investors bought over $800,000,000 in ETH over the last four days.

This large-scale accumulation by whales may indicate that these high-net-worth investors are capitalizing on panic-selling from retail traders.

When retail investors sell off their holdings amid market uncertainty and declining prices, it creates opportunities for whales to accumulate Ether at discounted rates.

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