Ethereum Sentiment Analysis: Whale Activities Unveiled

In a recent thread on Lookonchain, a prominent on-chain resource in the crypto market, an in-depth analysis of Ethereum’s (ETH) sentiment was conducted as it surpassed the $2,000 milestone and maintained its position for several days.

The primary focus of the thread was to uncover whether crypto whales and influential investors expressed bullish or bearish sentiments toward ETH through their recent activities. Lookonchain’s tweets provided a detailed examination of whale movements within the Ethereum market.

One notable observation was the activity of an Ethereum whale identified as “0xE4F4.” This influential investor transferred a substantial 26,406 ETH, valued at $54 million, to the Bitfinex exchange.

What caught attention was the fact that this whale had been inactive for approximately three years. As of the current movement, the investor holds $123.4 million in Ethereum.

Another whale, “0xBf71,” deposited 30,001 ETH, worth $62 million, into Binance. According to Lookonchain, this ETH investor has incurred a significant total loss of around $183 million.

The market tracker also highlighted two wallet addresses potentially associated with the same individual. They initially staked 5,000 ETH on May 26, but on November 10, the same day Ethereum hit $2,120, they withdrew 5,090 ETH and deposited it into exchanges.

Another noteworthy mention was a whale re-entering the market by accumulating $6.7 million in Ethereum after a dormant period of seven months. With this renewed accumulation, the investor now holds a total of 183,742 ETH, valued at $387.8 million, with an unrealized profit of around $154 million.