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Last night, when ETH dropped to $2,900, an old-school Bitcoin whale made a move again.
Taking advantage of the dip, this whale went on a buying spree and piled up $166 million in ETH long positions. The average entry price is locked at $3,048, and currently, there’s already an unrealized profit of $940,000.
What’s even more impressive is his liquidation price—$1,795. This means ETH would have to get cut in half for his position to get liquidated. That’s some serious risk appetite.
Judging by this, big money still has strong confidence in ETH’s future. While regular players are just watching from the sidelines, whales are already quietly positioning themselves.