On according to Arkham, the founder of one of the first Bitcoin mining pools F2Pool, Chun Wang, allegedly withdrew from Binance $67,5 million worth of Ethereum has been transferred over the past two weeks. Additionally, an address believed to belong to Wang holds $150 million in ETH.
According to Arkham information, over the past month and a half, Chun Wan has transferred Binance Around $240 million in stablecoins. It’s safe to assume that at a price below $2000, he’s accumulating the number two cryptocurrency.
Arkham Data
Over the past six months, starting September 1, the leading Altcoyin has lost more than 60% from its peak of $4955. It’s quite possible that this figure could be attractive to large investors.
ETH/USD Monthly Chart, Source: TradingView
Chun Wang isn’t the only one accumulating Ethereum. Bitmine has been consistently buying up ETH, believing the cryptoasset to be significantly undervalued.
Its chairman of the board of directors Tom Lee is of the opinion, that three important factors will bring success to the altcoin:
- tokenization on Wall Street;
- application of artificial intelligence in smart blockchains for transaction execution;
- the transition of the creator economy to blockchain-based verification.
Of course, Bitmine’s goal is to accumulate 5% of the entire Ethereum supply.