Ethereum (ETH) making waves among large-scale investors
Ethereum (ETH) seems to be drawing significant attention from large-scale investors, colloquially known as “whales.”
According to data shared by Lookonchain, four prominent Ethereum holders collectively purchased 56.1K ETH, amounting to $94 million, within the last seven days.
According to data shared by Lookonchain, four prominent Ethereum holders collectively purchased 56.1K ETH, amounting to $94 million, within the last seven days.
The accumulation comes amid shifting dynamics among Ethereum whales. Analyst Ali Charts reports that since February, about 112 large holders with more than 10,000 ETH have been adjusting their portfolios.
These moves have involved either selling or redistributing Ethereum assets, a sign of strategic maneuvering in anticipation of market conditions.
Ethereum’s price currently stands at $1,671, with a market cap of $201 billion and a 24-hour trading volume of $9.1 billion, according to CoinGecko data.
However, it is not all clear sailing for Ethereum, especially for investors in the United States. Bitstamp, a U.K.-based cryptocurrency exchange, announced yesterday that it will end its Ethereum staking service for U.S. customers next month. The decision is attributed to “regulatory dynamics” currently at play in the U.S.
Yet, as reported by U.Today, the U.S. Securities and Exchange Commission is on track to approve several Ethereum ETFs.
Source: https://u.today/whales-scoop-up-94-million-in-eth-in-just-one-week