Ethereum’s Momentum Surges As Whale Activity And ETF Inflows Reach Record Highs
The post Ethereum’s Momentum Surges As Whale Activity And ETF Inflows Reach Record Highs appeared on BitcoinEthereumNews.com.
Ethereum is once again demonstrating the growth that cemented its position as the second-largest crypto asset by market cap, a title it has held consistently for nearly eight years. Recent data reveals a surge in whale transactions, with key holders significantly ramping up activity—contributing to Ethereum’s recent 14-week high in trading momentum. Transaction volumes have surged to $10.4 billion in recent days, a strong indicator of heightened interest. 📈 Ethereum, currently sitting at $3.12K, is finally showing the growth that helped it climb to the #2 ranked market cap asset in crypto, largely staying in this position throughout the past 8 years. Whale transaction data indicates a major spike in key stakeholder activity.… pic.twitter.com/CWPpeMPWla — Santiment (@santimentfeed) November 10, 2024 One of the most notable moves in the market comes from Justin Sun (@justinsuntron), who appears to be capitalizing on Ethereum’s latest rally. Just 15 hours ago, Sun deposited 19,000 ETH (worth $60.83 million) to HTX at a price of $3,202 per ETH. This deposit is part of a larger net acquisition of 392,474 ETH that Sun reportedly amassed across three wallets from February 8 to August 5. With an average purchase price of $3,027 per ETH, his holdings represent an estimated cost of $1.19 billion, positioning him with a potential profit of $69.36 million—a gain of about 5.69%. Justin Sun (@justinsuntron) appears to be cashing in on $ETH amid the latest market rally! 15 hours ago, he deposited the first 19,000 $ETH ($60.83M) to HTX at $3,202. This was part of the net 392,474 $ETH he allegedly acquired at an average price of $3,027 (est. cost: $1.19B)… https://t.co/976PXgoJ80 pic.twitter.com/UCNpE0vnVp — Spot On Chain (@spotonchain) November 11, 2024 Ethereum’s Institutional Inflow Contributes To Growth The inflow of institutional funds is also adding to Ethereum’s growth. From November 4 to 8,…
Filed under: News - @ November 12, 2024 11:20 am