Ethereum

Bitcoin

Notable

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<p>Blockchain sleuth Lookonchain <a href="https://twitter.com/lookonchain/status/1708521682904993920" rel="noopener noreferrer nofollow">has recorded</a> notable increases in Ethereum (ETH) accumulation. Notably, they were coupled with a significant price uptick and recent exchange-traded fund (ETF) filings.</p> 
<h2 id="accumulation-comes-with-a-price-uptick">Accumulation comes with a price uptick&nbsp;</h2> 
<p>According to Lookonchain data, a particular entity, labeled as "whale"0x7838," recently withdrew 4,288 ETH, equivalent to $7.2 million, from <a href="https://u.today/binance-v-sec-multiple-bitcoin-pairs-face-service-cuts-amid-court-clash" rel="noopener noreferrer nofollow">Binance</a> and staked it.&nbsp;</p> 
<p>Another fresh wallet, "0x4b7B," withdrew 9,530 ETH ($16 million) from the same platform and staked it, thus contributing to Ethereum’s momentum in the market.</p> 
<p>Meanwhile, the second-biggest cryptocurrency, has experienced a 2.3% increase in its value, elevating its price to $1,718. According to CoinGecko <a href="https://www.coingecko.com/en/coins/ethereum" rel="noopener noreferrer nofollow">data</a>, the Bitcoin competitor is currently valued at a whopping $206 billion.&nbsp;</p> 
<h2 id="the-etf-frenzy">The ETF frenzy</h2> 
<p>Adding fuel to <a href="https://u.today/ethereum-etf-heres-why-next-week-might-be-crucial" rel="noopener noreferrer nofollow">Ethereum’s momentum</a> is the recent decision by the U.S. Securities and Exchange Commission (SEC) to greenlight Ethereum futures for inclusion in exchange-traded funds (ETFs).&nbsp;</p> 
<p><a href="https://u.today/bitcoin-futures-etf-date-revision-announced-by-valkyrie-funds" rel="noopener noreferrer nofollow">Valkyrie Funds</a> seized this opportunity, integrating Ethereum futures into its existing Bitcoin futures ETF. This development marks the first instance where Ethereum-based futures are accessible to investors through an ETF, potentially paving the way for enhanced market stability and investor confidence.</p> 
<p>Several other asset managers, including VanEck and ProShares, are also in the running to launch Ethereum futures ETFs.</p>

Massive Ethereum (ETH) Accumulation Is Underway

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