Ethereum

PEPE

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 <li><strong>Institutional players like Cumberland and ParaFi Capital moved millions in ETH.</strong></li> 
 <li><strong>U.S. spot Ethereum ETFs saw a combined net inflow of $58.7M on Sep 27.</strong></li> 
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<p>Ethereum whale transactions have surged this week as the price of ETH shows signs of recovery. A <a href="https://x.com/spotonchain/status/1839853221587878042?t=OIiGsT9LElL1wmHar2IYqA&amp;s=19" target="_blank" rel="noreferrer noopener nofollow">notable </a>whale, inactive for four months, made significant moves, cashing out 12,979 ETH valued at $34.3 million. This whale, with a profit of $58.8 million, originally acquired 21,632 ETH from ShapeShift and Poloniex for $7.074 per ETH in 2016.<br><br>Since May, the whale has sold 15,879 ETH, earning $43.5 million at an average price of $2,739 per ETH. The whale now holds 5,760 ETH, valued at $15.5 million, and has realized a total profit of 141x its initial investment.</p> 
<p>Further, the institutional <a href="https://x.com/lookonchain/status/1839866899318096109?t=UPPzl03vrcCDcXHh61e64A&amp;s=19" target="_blank" rel="noreferrer noopener nofollow">activity </a>also remains strong. Two major institutions, Cumberland and ParaFi Capital, made significant movements. A wallet linked to Cumberland deposited 11,800 ETH ($31.88 million) into Coinbase. Meanwhile, ParaFi Capital withdrew 5,134 ETH ($13.83 million) from Lido and deposited it into Coinbase Prime. These transactions reflect strategic selling from major entities during Ethereum’s price recovery.</p> 
<p>Additionally, a whale linked to 3AC made a <a href="https://x.com/lookonchain/status/1839849754936914436" target="_blank" rel="noreferrer noopener nofollow">remarkable</a> trade this week. This sniper spent 238 ETH ($641.5K) to acquire 28.03 million 3AC tokens when the token first began trading. Shortly after, they sold 24.95 million 3AC tokens for 799 ETH ($2.15 million), pocketing 561 ETH ($1.5 million) in profit. They still hold 3.08 million 3AC tokens, currently valued at $369,000.</p> 
<p>In contrast to the ETH market, the U.S. spot Ethereum <a href="https://thenewscrypto.com/ethereum-etf-decision-postponed-as-sec-extends-deadline/" target="_blank" rel="noreferrer noopener">ETF </a>market has seen a significant influx of capital. On September 27, ETFs experienced a combined net inflow of $58.7 million. Fidelity’s FETH recorded the largest share with $42.5 million in inflows, followed by BlackRock’s ETHA ($11.5 million) and Bitwise’s ETHW ($5.4 million). Meanwhile, Grayscale’s ETHE experienced net outflows of $10.7 million. These ETF movements suggest increasing institutional interest in Ethereum as the market rallies.</p> 
<h3 class="wp-block-heading" id="h-ethereum-s-performance-in-the-current-market">Ethereum’s Performance in the current market</h3> 
<p>Ethereum’s <a href="https://thenewscrypto.com/cardano-ada-price-surges-to-0-40-reaching-two-month-high/https://thenewscrypto.com/cardano-ada-price-surges-to-0-40-reaching-two-month-high/" target="_blank" rel="noreferrer noopener">price</a> is showing positive sign, currently trading at $2,694.36, up 1.83% in the last 24 hours. Market capitalization stands at $324.3 billion with a daily trading volume of $16.5 billion. According to technical indicators, Ethereum’s relative strength index (RSI) on the 4-hour chart is at 63.43, indicating mildly overbought conditions, while the RSI on the 1-hour chart reads 41.33, reflecting a short-term bearish momentum.</p> 
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<p>The 9-period and 21-period moving averages on the 4-hour chart show a positive crossover, signaling potential further bullishness. Support is currently set at $2,630, with resistance at $2,700. If Ethereum can maintain momentum above $2,700, the price could aim for the next level at $2,800. However, if support at $2,630 breaks, Ethereum may retest the $2,600 level.</p>

Ethereum Whale Activity Ramps Up Amid Market Recovery

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