Whale "Machi" expands Ethereum investment portfolio amid bull run

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According to on-chain data from BlockBeats, the amount of Ethereum held has risen to the sky amid recent market volatility. An investor nicknamed “Machi” has significantly expanded his buying position during the market's slight bounce back. In just a short-term, the amount of Ethereum held by Machi has increased 25 times, reaching a total of 2,500 ETH.

This large accumulation move indicates a growing confidence in the short-term outlook of Ethereum, possibly anticipating the next surge or an influx of institutional capital. Meanwhile, smaller traders have scaled back on PUMP buying positions, reflecting a shift in capital towards larger assets like Ethereum. This divergence reflects market sentiment: large investors are betting on an upward trend, while smaller investors remain cautious.

ETH-0.56%
PUMP-9.42%
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