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

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.

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