The week after Eric Trump said “a good time to join ETH”, Whale reserved over $300 million in Ethereum (what is cooking) – Grayscale Ethereum Mini Trust ( ETH) score without dispersed interests (ARCA:ETH)
Whales collect hundreds of millions of dollars Ethereum ETH/USDcapitalize on the soft rates of the world’s second largest cryptocurrency.
what happened: In a Monday X post, two large numbers of Ethereum withdrawals were reported through the chain tracking platform Lookonchain.
The first withdrawal involves 56,909 ETH, worth 151.6 million, from binancewhile the second whale accumulated 64,603 ETH, worth $171.8 million, it comes from Binance and Bitfinex. Both transactions occur in a 48-hour window.
According to Intotheblock, these withdrawals are part of a market-wide phenomenon, as Ethereum has recorded more than $51 million in net exchange outflows in the past 24 hours. Usually, when more funds exit the exchange than they enter, this indicates a bullish outlook.
Additionally, transactions worth over $100,000 increased by 16%, suggesting that whale investors have new interest in accumulating ETH.
See: Now his $775 million Bitcoin fortune is buried in a landfill and now wants to buy a garbage dump
Why it matters: The accumulation of large investors comes at a time when Wall Street hedge funds are increasingly betting on ETH. A report shows that short-term positioning has soared 40% in a week since November and 500% soared 500%.
According to Google Trends data, ETH is also the least popular of the three largest cryptocurrencies. Bitcoin BTC/USD and XRP XRP/USD Generate higher search interest.
Interestingly, Eric Trump, President Donald Trump’s The son suggested on X last week that “it’s a good time to increase ETH” which could affect the decisions of some players.
Price action: At the time of writing, Ethereum exchanged 3.25% for $2,716.83, according to Benzinga Pro. Graduates, coins suffered more than 18% of losses.
Image via shutterstock
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