A Whale That Previously Held a $538 Million Portfolio Has Begun Accumulating Altcoins Again

According to data from the on-chain analytics platform Arkham, thomasg.eth, an early investor in the Ethereum ecosystem, has re-entered the buyback program.

According to data, thomasg.eth held approximately $538 million worth of cryptocurrencies, including Ethereum ($ETH), Wrapped Bitcoin (WBTC), and DAI, at the peak of the 2021 bull market. Recent developments indicate that the investor is re-entering the market.

According to on-chain data, the whale in question purchased approximately $3 million worth of $ETH in its latest transaction. This brings its total Ethereum purchases this week alone to $19.5 million.

Arkham’s assessment noted that it is remarkable that large investors have started accumulating $ETH again, stating, “Investors who once held over $500 million worth of crypto assets are now buying again.”

$ETH price has risen by 3.5% in the last week. During the same period, Bitcoin saw a 0.20% decrease.

*This is not investment advice.