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

Recently, large Ethereum holders bought heavily after Ethereum, the second-largest cryptocurrency, dropped more than 16% in October, its second-worst October. Analytics platform Lookonchain identified a trader called 0x9EcA who spent almost $38 million on 16,658 ETH at an average price of $2,279, then bought a total of 27,553 ETH for nearly $63 million. The October decline followed market weakness, outflows from spot ETH exchange-traded funds, a $6.3 billion Binance hack, and selling from wallets linked to the Ethereum Foundation. Ethereum traded just below $2,300 as of press time.