3 New Wallets in 2 Hours: Mysterious Whale Accumulates This Altcoin with $50 Million

A mysterious whale purchased a massive amount of Ethereum (ETH) by spending over $50 million through three different wallets created within the last two hours.

As volatility continues in the cryptocurrency markets, on-chain data continues to reveal the strategic moves of large investors. Most recently, according to data shared by Lookonchain, an unidentified whale accumulated a significant amount of Ethereum (ETH) from the market. This mysterious investor created three new wallets within the last two hours to carry out the transactions.

It is estimated that these wallets belong to a single individual or institution. A total of 50.04 million DAI was spent through these wallets to purchase 25,425 ETH. Analysis shows that the whale executed the purchases at an average price level of $1,968.

Massive Accumulation for Ethereum in Whale Transactions

According to data obtained from on-chain tracking platforms, it appears the transactions were executed through the decentralized exchange Uniswap and liquidity provider Wintermute. Looking at the transaction history, it is clearly visible that millions of dollars worth of DAI assets were swapped for ETH in batches. Specifically, the simultaneous movements of wallet addresses starting with 0x06c, 0x365, and 0xee1 prove that this operation was managed from a single source.

The entry of newly created wallets into the market with such large capital was seen as a noteworthy development among investors. This move by the whale, exceeding $50 million in a single go, shows that expectations for the Ethereum (ETH) price and the market’s open interest appetite remain vibrant. The high-volume purchases seen in the transfer details indicate that major players view current price levels as an accumulation zone.