Whale Wagers $45M That Tom Lee Is Right About Ethereum’s Bottom
Photo: TheCoinrise
The prediction comes as nearly $300 million in long liquidations put the bottoming thesis to an early test Tom Lee, co-founder of Fundstrat Global Advisors, has said he believes Ethereum is in the process of bottoming out after a stretch of price weakness. His comments have drawn attention from traders watching for signs that the selling pressure on the asset is easing. A whale trader has moved to back that view with capital. Reports indicate the trader has placed a position worth roughly $45 million that stands to benefit if Ethereum's price stabilizes and recovers in line with Lee's prediction.
Also reported by AMBCrypto.
Source: TheCoinrise
