Ethereum

United

Status

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-whales-make-significant-purchases/" data-wpel-link="internal">Ethereum Whales Make Significant Purchases</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/sec-approves-leveraged-ethereum-etf-in-the-us/" data-wpel-link="internal">Ethereum</a></strong> (ETH) continues to experience price uncertainty. Recently, there was a recovery, but a recent drop has caused market uncertainty. However, a situation uncovered by market followers suggests a different scenario. Lookonchain revealed that Ethereum whales are making large purchases, indicating a potential rise on the horizon.</p> 
<h2 style="text-align: justify" id="ethereum-whale-and-profits">Ethereum Whale and Profits</h2> 
<p style="text-align: justify">On August 2, <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> provided by <strong>Lookonchain</strong> revealed a significant situation in Ethereum. A notable whale, seen to have made substantial profits, was identified by Lookonchain. This whale continues to operate with a remarkable 100% profit in ETH transactions and has made over $38 million in profit since 2022.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376592" src="https://coin-turk.com/wp-content/uploads/2024/08/etf-2-coin-turk-com.png" alt="" width="323" height="358"></p> 
<p style="text-align: justify">Since May 29, this whale has actively purchased 17,012 ETH with an average cost of $61 million (DCA). The latest purchase by the whale occurred approximately five hours before Lookonchain’s announcement, involving 4,000 ETH worth $12.58 million.</p> 
<h2 style="text-align: justify" id="current-status-of-ethereum-etfs">Current Status of Ethereum ETFs</h2> 
<p style="text-align: justify">In May 2024, the <strong>United States Securities and Exchange Commission</strong> (SEC) approved nine Ethereum spot ETFs for trading in the country, with trading commencing in July. This development excited institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, turning their attention to Ethereum, supported by leading fund providers and asset managers like <strong>BlackRock</strong> (NYSE: BLK).</p> 
<p style="text-align: justify">Currently, the ETFs have seen an outflow of $456.0 million, primarily due to <strong>Grayscale’s</strong> (ETHE) sales. Excluding Grayscale, the total of the other eight ETH ETFs reached approximately $1.6 billion, highlighting the demand for Ethereum.</p> 
<p style="text-align: justify">During this period, investment giant BlackRock’s iShares Ethereum fund (ETHA) alone hosted an inflow of $712.80 million, representing the highest capital volume.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376593" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-etf-coin-turk-com.png" alt="" width="506" height="264"></p> 
<h2 id="current-ethereum-price">Current Ethereum Price</h2> 
<p style="text-align: justify">The current price of Ethereum tells a different story. After a 2.74% drop in the last 24 hours, Ethereum is trading at $3,041, having briefly fallen below $3,000. Additionally, the market cap has declined to $365.5 billion.</p> 
<p>Despite the drop in price and market cap, trading volume has increased by 8.48%, reaching $21.2 billion. The whale’s purchases coinciding with the rise in trading volume may indicate an expectation of a price increase in the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-whales-make-significant-purchases/" data-wpel-link="internal">Ethereum Whales Make Significant Purchases</a></h5>
<p>The post <a href="https://en.coin-turk.com/ethereum-whales-make-significant-purchases/" data-wpel-link="internal">Ethereum Whales Make Significant Purchases</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Ethereum Whales Make Significant Purchases

Table of Contents

COINTURK NEWS

Other articles published on Aug 2, 2024

Can Solana (SOL) Expect a Revival Soon Midst the Uncertainty?

Why is crypto down today? September has the answer

Islamic State Seeks Sharia Law Concession for Crypto: UN Report

Alibaba And Nvidia Stock As Incentive To Trade Crypto - Hong Kong's Futu Securities Introduces Cr...

Analyst Foresees Crypto Price Movements

Coinbase Second Quarter Revenue Reaches $1.45 Amidst Regulatory Progress

Join our free newsletter for daily crypto updates!