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Sells high, buys back low?
The post Sells high, buys back low? appeared on BitcoinEthereumNews.com. A whale made some splash in the Ether ecosystem by selling and repurchasing Ethereum tokens. They first transferred $103 million worth of ETH and later bought some tokens for $70 million. The number of tokens transferred at that time was 33,765 and 22,713, respectively, with an average price of $3,082. According to reports, the whale transferred the funds to borrow $80 million USDC on the Aave platform. Many believe that it is equivalent to adding back the leverage that the whale unloaded, suggesting that they may have done so after regretting selling their tokens. Both situations hold validity. The whale, or a large crypto investor, may have sold to prevent further loss. ETH is down to $2,887.5, with a decline of 8.83% in the last 24 hours. There is a chance it will fall further. Hence, it only makes sense to secure whatever profit they can put in their pocket. As an alternative, the whale may have done so to secure funds for other objectives before being persuaded to repurchase them. Another reason why both scenarios are valid is that it’s possible to overlook the Spot Ether ETFs’ approval. It has been termed as a golden egg for ETH by many crypto community members. The approval could potentially lead to a significant surge, albeit not instantly. Therefore, holding at least a portion of ETH makes sense, even if a trader or investor wants to shed some weight. Traders and investors view a crypto rock bottom as a phase where they can buy the dip. They are poised to unleash a bull run, which entails a price hike and the ability to sell tokens at a higher price for profits. ETH is likely at its lowest trading value. Despite projections of further decline, there is a possibility of an upswing following…
The post Sells high, buys back low? appeared on BitcoinEthereumNews.com.
A whale made some splash in the Ether ecosystem by selling and repurchasing Ethereum tokens. They first transferred $103 million worth of ETH and later bought some tokens for $70 million. The number of tokens transferred at that time was 33,765 and 22,713, respectively, with an average price of $3,082. According to reports, the whale transferred the funds to borrow $80 million USDC on the Aave platform. Many believe that it is equivalent to adding back the leverage that the whale unloaded, suggesting that they may have done so after regretting selling their tokens. Both situations hold validity. The whale, or a large crypto investor, may have sold to prevent further loss. ETH is down to $2,887.5, with a decline of 8.83% in the last 24 hours. There is a chance it will fall further. Hence, it only makes sense to secure whatever profit they can put in their pocket. As an alternative, the whale may have done so to secure funds for other objectives before being persuaded to repurchase them. Another reason why both scenarios are valid is that it’s possible to overlook the Spot Ether ETFs’ approval. It has been termed as a golden egg for ETH by many crypto community members. The approval could potentially lead to a significant surge, albeit not instantly. Therefore, holding at least a portion of ETH makes sense, even if a trader or investor wants to shed some weight. Traders and investors view a crypto rock bottom as a phase where they can buy the dip. They are poised to unleash a bull run, which entails a price hike and the ability to sell tokens at a higher price for profits. ETH is likely at its lowest trading value. Despite projections of further decline, there is a possibility of an upswing following…
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