As Bitcoin approached $31,000 with its rise, significant increases were also seen in altcoins.

While XRP, which achieved victory against the SEC, rose by 6.6% in the last week, the largest altcoin Ethereum (ETH) rose by 6% to $ 1,670.

At this point, while BTC and altcoins attract attention with the rise they have experienced in recent days, whales continue their purchases.

In its post, Lookonchain said that 6 whales accumulated a total of 42,391 ETH ($71 million) in the last 3 days.

Accordingly, a whale accumulated a total of 20,590 ETH (worth $34.5 million) in the last 3 days. He spent 28 million USDC to buy 17,000 ETH from Whale DEX at $1,647, while receiving 3,590 ETH (valued at $6 million) from Binance.

The whale named degentradinglsd3.eth received 2,000 ETH (worth $3.35 million) from Binance 8 hours ago.

Lookonchain also purchased 3 new wallets totaling 9,539 ETH ($16 million worth) from Binance and Kraken in the last 3 days.

Analysts evaluate whales’ Ethereum accumulation as positive for the ETH price in the future.

Ethereum continues to trade at $1,677 at the time of writing.

1/ Are you bullish or bearish on $ETH?

We noticed that 6 whales are accumulating $ETH, with a total of 42,391 $ETH($71M) in the last 3 days. pic.twitter.com/3cyTJbQKfg

— Lookonchain (@lookonchain) October 23, 2023

*This is not investment advice.

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