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I spotted a whale that is seriously accumulating ETH right now. It just received over 8,000 ETH from Galaxy Digital for about $16.5 million. That's volume.
What intrigues me is that over the past three months, this address (0x69A...) has swallowed up 14,500+ ETH at an average price of $2,200 per coin. Now we're talking about an accumulation of over 37,500 ETH in total, or nearly $77 million in holdings.
But hey, it's currently in the red with an unrealized loss of about $38 million. This is the kind of position that shows real long-term conviction. These whales don't make moves like this just to trade short-term.