SpotOnChain observed that six wallets associated with PulseChain/X purchased a large amount of Ethereum (ETH) in the last 13 hours. Based on their investigation, these wallets purchased 33,117 ETH for 120 million DAI, at a median price of $3,628 per ETH.
Particularly, the investigation showed that these six accounts still have a significant sum of 71.7 million DAI, which could indicate their plan to buy even more ETH in the coming days.
The time of this massive ETH buy relates with a tremendous increase in the price of ETH, which has surpassed the $3,700 mark. At the time of publication, ETH was up 7% for the day, adding to the enthusiasm surrounding the world’s second-largest cryptocurrency.
This claimed action by PulseChain/X has piqued the interest of the crypto world, with speculation circling over the reasons for such a massive ETH accumulation. Some commentators believe that this is a planned move to get a significant interest in the Ethereum ecosystem, possibly in preparation for future advancements or alliances.
As the crypto field evolves rapidly, occurrences like this highlight the growing interest and involvement of many market players, each with their own goals and plans. The impact of this reported PulseChain/X move on the larger cryptocurrency environment is still to be determined, but it has surely ignited debate and raised concerns among industry analysts and devotees.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.