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ETH big dump of 32%, a mysterious mining company is crazily buying 1.07 million coins against the trend: buy the dip or catch a falling knife?
Interesting data from 【区块律动】—a mining company has been on a buying spree for ETH over the past two months. At the end of September, they held 2.65 million ETH, and today it has soared to 3.72 million ETH, a net increase of over 1.07 million ETH.
What's even more amazing is the timing: over the past two months, ETH has plummeted from 4142 to 2811, a drop of 32%. While others were panic selling, this company was increasing its position against the trend.
Either they truly believe in the long-term value of Ethereum, or they are simply averaging down their costs since they are already at a loss? Anyway, this operation is bold enough, and it is estimated that the cost line has been significantly lowered. The market is watching how this heavy position will end.