Ethereum

James

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A dormant Ethereum address containing 977 ETH tokens was <a href="https://x.com/whale_alert/status/1815427035868631200" rel="noopener noreferrer nofollow">activated</a> for the first time in nine years, according to Whale Alert.
The activation comes on the cusp of the much-anticipated launch of multiple spot Ethereum exchange-traded funds (ETFs) in the United States.&nbsp;
According to prominent ETF analyst James Seyffart, these products are expected to go live on July 23. "We expect them to begin trading tomorrow. That means we should see a bunch of filings on the SEC site today that say the ETFs' prospectuses have gone "effective". Likely after or around market close," Seyffart said in a social media post.
It is now clear whether the awakening of the ancient Ethereum address is somehow linked to the much-anticipated event. That said, all eyes are expected to be on the flagship altcoin this Tuesday.&nbsp;
Notably, this is the first time that a dormant Ethereum address has been activated this month. In June, a dormant pre-mine address containing a whopping 6,000 ETH came out of dormancy. Two pre-mine Ethereum addresses were also activated in May.&nbsp;
The U.S. Securities and Exchange Commission made a stunning U-turn in May by greenlighting several Ethereum ETFs from such issuers as BlackRock, Fidelity, and Grayscale. Now that the two-stage approval process is over, these products are ready to record their first inflows that will be widely tracked within the cryptocurrency industry. With that being said, there is a lot of uncertainty surrounding the size of these inflows. If these ETFs underperform, it could end up being a significant bearish catalyst (and vice versa).
According to CoinGecko data, Ethereum is currently trading at $3,467 after dipping by 1.1% over the past 24 hours.&nbsp;&nbsp;

Ancient Ethereum (ETH) Whale Awakens Ahead of ETH Launch

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