Ethereum Whales Target Dip as ETH Drops Below $2,200 in Selloff

Ethereum whales continued buying ETH on November 9 despite a selloff that pushed the token below $2,200. Lookonchain reported that two possibly linked wallets spent $9.08 million on 4,312 ETH, extending a series of large purchases over several days. The wallets paid an average of $2,106 per ETH, according to the on-chain tracker. Other Ethereum whales used direct purchases and borrowed funds to build positions. Separate wallets also moved large amounts of ETH out of Binance. Lookonchain traced wallet 0xFD10 after it borrowed 22 million USDT via Aave. This wallet used the money to acquire 10,000 ETH worth $21.55 million at an average price of $2,155. This means that the acquisition of ETH was carried out with the help of borrowed money.

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