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As the Ethereum price sharply fell to lows of $2,850 on April 13, on-chain data captured a strategic accumulation made by an ETH whale or large holder.Based on data from on-chain sources, the whale's buying frenzy began days ago, when the ETH price began to plummet, and included withdrawals from Binance and decentralized exchanges.
The whale's actions coincided with a broader trend of Ethereum accumulation by large holders. Another mysterious whale, a fresh wallet tagged as"0xE347," was said to have withdrawn 7,300 ETH worth $23.8 million from Binance and transferred it to Pendle Finance. A cVault.finance deployer paid 6 million DAI to buy 2,018 ETH for almost $2,973, according to Spot On Chain.was down 6.