Ethereum

Block

Gary

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As revealed thanks to data from&nbsp;<a href="https://x.com/whale_alert/status/1793527301017161830" rel="noopener noreferrer nofollow">Whale Alert</a>, a previously dormant Ethereum whale has transferred 86 ETH, valued at $325,535, to major U.S. crypto exchange Coinbase.&nbsp;
This whale, identified by the wallet address "0xCc60," had originally acquired Ethereum during the Genesis Block as a participant in the ICO, where the token was valued at just $0.31. Now this volume of tokens equals $325,160 and the price of Ethereum stands at $3,850.
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 💤 A dormant pre-mine address containing 86 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> (325,535 USD) has just been activated after 8.8 years!<a href="https://t.co/Sok4yMsG5q" rel="noopener noreferrer nofollow">https://t.co/Sok4yMsG5q</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1793527301017161830?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 23, 2024</a>
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This substantial transaction coincides with heightened anticipation surrounding the imminent Ethereum ETF decision. Over the past few days, optimism for a favorable outcome has surged, driving Ethereum's price up by more than 23% since the beginning of the week.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="727972f3-f460-4cbd-9dc5-fcead16d6682" src="https://u.today/sites/default/files/inline-images/ethprice_2.png">ETH to USD by <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Analysts are now estimating a 75% chance that the SEC will approve the Ethereum ETF, further fueled by the agency's recent engagement with Ethereum issuers on Form S-1, a registration statement for securities. Additionally, a bipartisan group of lawmakers has urged SEC Chair Gary Gensler to approve spot Ethereum ETFs, adding political pressure to the regulatory decision.
The whale's transfer could be interpreted as a strategic move to capitalize on the market conditions or a simple reassurance from the holder.&nbsp;
However, this whale is not the only significant player making moves. Jeffrey Wilcke, one of Ethereum's cofounders, has sent 10,000 ETH, valued at approximately $37.4 million, to U.S. exchange Kraken. This transaction is part of a series of large transfers by Wilcke, who has moved a total of 24,300 ETH since the start of 2024, amounting to roughly $75 million.

Ethereum ICO Whale Hits Major US Exchange Ahead of ETF Decision

U_Today

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