Whale 0x4ED0 Boosts ETH Accumulation with 5,553 ETH Purchase
Crypto whale 0x4ED0 continues its ETH accumulation, buying 5,553 ETH (approx $24.44M) in 40 minutes on September 2, according to Lookonchain. This fresh purchase raises its total holdings to over 18,000 ETH, reflecting a sustained ETH accumulation strategy.
Since August 11, the whale has accumulated 18,447 ETH at an average cost of $4,417 each and 1,357 WBTC at $117,547 apiece. These assets are pledged on Aave to borrow $114.2M in USDT. The ongoing ETH accumulation and leveraged position underline strong confidence in Ethereum and could fuel bullish momentum in the near term.
Bullish
Whale 0x4ED0’s continued ETH accumulation signals strong bullish sentiment for Ethereum. Large-scale purchases by whales often precede upward price movements as they reduce circulating supply and signal confidence. Depositing ETH and WBTC on Aave to borrow USDT also indicates a leveraged strategy, allowing the whale to maintain exposure while obtaining liquidity. Historically, similar whale accumulation events, such as the 2021 whale buy spree before ETH’s ATH, have coincided with bullish market phases. In the short term, this buying pressure may support price floors and attract momentum traders. Over the longer term, sustained accumulation by whales suggests underlying demand resilience, which could underpin a broader bullish trend. However, the borrowed USDT position introduces leverage risk; significant market volatility could force liquidations and trigger downward pressure in extreme scenarios. Overall, the net effect is bullish due to the scale and persistence of the whale’s ETH accumulation strategy.