“Diamond Hand” Ethereum (ETH) Whale suddenly appeared, moving a massive 15,000 ETH token to a major exchange. Given the size of the transaction, this whale caught the attention of many Ethereum investors and the broader cryptocurrency community.

Diamond Hand Whale Transfers 15,000 ETH Tokens

Spot On Chain, a blockchain analytics platform, revealed on September 22 at X (formerly Twitter) fasting that the anonymous whale Diamond Hand transferred 15,000 ETH worth $38.4 million from his wallet address “0x682” to Krakenone of the largest cryptocurrency exchanges in the world.

Diamond whale is a term used primarily to describe traders or investors who HODL your coins, stocks, bonds, silver or bonds for an extended period of time with no plans to sell, no matter how much the token value changes or how much the market fluctuates.

Spot On Chain data revealed that this anonymous diamond whale initially made two ETH deposits on Kraken, both exceeding $30 million. Coincidentally, these two transactions occurred just before the price Ethereum experienced a decline.

The first transaction saw the whale transfer 10,000 ETH tokens, worth about $34.2 million, to Kraken on July 25, just before the Ethereum price fell 7.6%. In the second transaction, which took place on August 20, the diamond whale deposited 15,000 ETH, valued at $39.7 million at the time. This significant ETH transaction occurred just before the Ethereum price fell 2.5%.

Following this trend, it seems that this particular whale eth deposits could have been carefully calculated and strategic, executing trades just before prices dropped to avoid losses. What’s more, the whale’s actions can offer valuable insights, potentially signaling upcoming Ethereum price drop.

Currently, the diamond hand whale holds 26,639 ETH tokens, worth approximately $69.7 million, with an estimated total profit of $132 million. huge profit represents an impressive boost of over 86%.

Ethereum Price Analysis Update

This Ethereum price has been relatively stable in recent weeks, experiencing modest gains after delivering a lengthy period of significant bearish activity. According to CoinMarketCap data, ETH is trading at $2,640which means an boost of 1.93% over the past week and an impressive boost of 13.43% over the past seven days.

Especially, Ethereum bull market sparked optimism among analysts. A prominent cryptocurrency analyst identified as “Crypto Patel” on X has set ambitious price targets for Ethereum, anticipation that the value of the cryptocurrency could boost by $5,500–6,000.

He identified the best accumulation zone for investors at $2,500 to $2,100. Additionally, the analyst shared his long-term goal for ETH, predicting that the cryptocurrency could experience price breakout from $8,000 to $10,000.

Featured image created with Dall.E, chart from Tradingview.com