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I just checked the recent movements in Ethereum and noticed something interesting. BitMines, one of the largest ETH vaults, reports an unrealized loss of $3.5 billion on its $14.6 billion holdings. But what's curious is that while some funds are selling, major players like Liquid Capital are buying aggressively: $1.72 billion in ETH and planning to add another $1 billion.
ETH is currently consolidating near $2,320. What catches my attention is that BitMines and other analysts see a potential upside of 45%, suggesting it could reach a fair value of $4,200. Basically, while troubled vaults are liquidating, those with capital are accumulating. It's the classic whale vs. weak game.