Ethereum (ETH) Whales Buy Like ‘Crazy:’ Price Rally Incoming?

The latest price pullback does not appear to have scared certain whales, which have instead increased their exposure to ETH. The second-largest cryptocurrency started last month on the right foot but ultimately plunged by more than 16%. In fact, this was the second-worst October in the asset’s history. Some factors that likely contributed to the downfall include overall market weakness, massive outflows from spot ETH ETFs, the multi-billion-dollar hack on Binance, which shook the sector, and persistent selling from wallets linked to the Ethereum Foundation. Lately, though, some large investors have launched a buying spree, which could open the door to a short-term rebound. From Sell to Buy CryptoPotato reported that toward the end of October, an address tied to the Ethereum Foundation offloaded 2,785 ETH for around $6.42 million, while another investor dumped 1,500 units (about $3.46 million) after nine years of inactivity. The heavy selling persisted, and several days later, another market participant linked to the Ethereum Foundation parted with 7,594 ETH (around $17.8 million) after remaining dormant for a year. Popular analyst Ali Martinez noted the major selling spree by whale...