The post Ethereum Whale Activity Sparks Market Movements As Institutional Demand Grows appeared on BitcoinEthereumNews.com.

A massive Ethereum whale, known as “0xe3e,” has been offloading significant amounts of ETH over the past few days. In just three days, the whale sold 10,595 ETH for $24.7 million USDT. Regardless of market direction, this whale continues to sell 87.56 ETH for USDT every few minutes. Their current holdings stand at 6,042 ETH (worth $14.7 million), which is about 36.3% of their original stash. Estimated total profits? A staggering $39.34 million, equating to a 451x return. 10,595 $ETH has been sold for 24.7M $USDT by this ancient whale in just 3 days! Regardless of whether the market goes up or down, the ancient whale ‘0xe3e’ continues to sell 87.56 $ETH for $USDT every few minutes. Current holdings: 6,042 $ETH ($14.7M), ~36.3% of the original… https://t.co/80uSiGC9dp pic.twitter.com/QdBc3RV9Tl — Spot On Chain (@spotonchain) September 19, 2024 Meanwhile, another whale recently purchased 2,117.7 ETH for $5.17 million after Ethereum prices surged, taking a long position using circular borrowing. However, this whale faced liquidation on August 5th, losing 6,078 ETH ($14.7 million) when the market took a sharp dip. Over the past six months, this whale has lost $13 million by repeatedly going long on Ethereum, achieving a win rate of just 20% across five attempts. A whale bought 2,117.7 $ETH($5.17M) after the $ETH price rose and went long on $ETH through circular borrowing again! He was also liquidated for 6,078 $ETH($14.7M) when the price plummeted on Aug 5! In the past 6 months, he lost $13M by going long on $ETH! He went long on $ETH… pic.twitter.com/URz01cfUv1 — Lookonchain (@lookonchain) September 19, 2024 Ethereum ETFs Holds Almost 3 Million ETH  On the institutional side, Ethereum ETFs hold a combined 2,862,403.31 ETH, valued at over $7.19 billion as of August 31, 2024. Grayscale remains the largest player in this space, with its…

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Filed under: News - @ September 20, 2024 10:22 am