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Ethereum (ETH) price is in the spotlight as the top altcoin in the digital space. Its market outlook has improved in the past seven days.
Ethereum price has registered over a 5% increase in the past week, with the shift recorded over a 24-hour period. The resurgence might account for the massive accumulation recorded among large holders in the ecosystem.
Whales’ Aggressive Accumulation Signals Possible Bullish Ethereum Rally
According to an update from Lookonchain, ETH whales are in a frenzy over the asset’s accumulation. Over two hours, whales displayed a strong buying interest. They are even borrowing to accumulate the ETH coin.
A whale with the Wallet address “0xDdb4” borrowed 3.44 million USD from Aave, the decentralized lending platform. The wallet owner spent the entire amount to purchase 1,856 ETH in a leveraged bet.
Similarly, another whale with the Wallet address “0xf84d” borrowed 1.64 million USDC but spent 2.34 million USDC to acquire 1,259 ETH.

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