With a correction continuing on the cryptocurrency market, some traders and investors decided to “buy the dip” to either cover their losses when the market recovers or make additional profits by buying low and selling high.
While the market did not reflect the large buying power that suddenly appeared earlier today, tracking services noticed a $100 million funds transfer immediately. According to the transaction page, a whale has transferred his funds from Gemini exchange to a private wallet.
The wallet’s value is currently at $92 million after Ethereum lost 8% of its previously gained value. The wallet has been constantly sending and receiving funds, which might indicate that it is tied to a project or even an exchange, but no such information has been confirmed.
