A giant Ethereum whale continues to accumulate coins despite the downward trend in the crypto market.
According to information shared by the blockchain analysis platform Spot On Chain, a whale is accumulating Ethereum despite having unrealized losses.
The whale is reported to have accumulated a total of 41,338 Ethereum at an average price of $3,030 per unit from Binance and Uniswap exchanges, totaling $125 million over the past five days.
Following an attack by Israel on Iran, the price of Ethereum, along with Bitcoin, briefly fell below $3,000. However, ETH recovered in the morning hours and rose back above $3,000.
This whale, holding a total of 117,268 Ethereum worth $353 million in their wallet, is estimated to have unrealized losses of $19.4 million. According to Spot On Chain’s calculations, the whale is experiencing a loss of approximately 4.8%.
