{"id":83749,"date":"2024-07-10T04:01:58","date_gmt":"2024-07-10T08:01:58","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83749"},"modified":"2024-07-10T04:02:02","modified_gmt":"2024-07-10T08:02:02","slug":"eth-whale-pulls-16449-eth-ahead-of-ethereum-etf-approval","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eth-whale-pulls-16449-eth-ahead-of-ethereum-etf-approval\/","title":{"rendered":"ETH Whale Pulls 16,449 ETH Ahead of Ethereum ETF Approval"},"content":{"rendered":"\n

Whale made a recent purchase, coinciding with the upcoming Ethereum ETF approval. The Ether price<\/a> remains above the support level of $3,000.<\/p>\n\n\n\n

\"ETH
ETH Whale Pulls 16,449 ETH Ahead of Ethereum ETF Approval<\/em><\/figcaption><\/figure>\n\n\n\n

As we draw nearer to the eagerly anticipated approval of the spot Ethereum ETF, the Ethereum (ETH) price has experienced a substantial increase, reaching $3,100. Furthermore, the Ethereum billionaires encourage the ETH price to continue its upward trajectory.<\/p>\n\n\n\n

Ethereum Whale has accumulated ETH worth $50 million<\/strong><\/h3>\n\n\n\n

An Ethereum titan recently withdrew a substantial 16,449 ETH, valued at $50.3 million, from the crypto exchange Binance, according to on-chain data provider Spot On Chain\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, as the ETH price surged past $3,000.<\/p>\n\n\n\n

The data provider observes that this is the initial substantial accumulation by a new cetacean address. Additionally, the whale has transferred all the ETH withdrawn to a new wallet and resides there. The timing of this significant withdrawal aligns with the anticipated launch of the ETH ETF next week, which implies that Ethereum may have a bullish outlook.
<\/p>\n\n\n\n

\n

7 hours ago, a whale\/institution withdrew 16,449 $ETH<\/use><\/svg><\/span><\/a> ($50.3M) from #Binance<\/use><\/svg><\/span><\/a> as the #Ethereum<\/use><\/svg><\/span><\/a> price rebounded to above $3,000.

This is the whale\u2019s first large $ETH<\/use><\/svg><\/span><\/a> accumulation. So far, it has moved all $ETH<\/use><\/svg><\/span><\/a> to a new wallet and held them there.

Note that the ETH ETF is likely\u2026 pic.twitter.com\/BBHOvWM3yx<\/use><\/svg><\/span><\/a><\/p>— Spot On Chain (@spotonchain) July 10, 2024<\/use><\/svg><\/span><\/a><\/blockquote>


Conversely, Golem Network, a decentralized computing platform, has liquidated its Ethereum (ETH) holdings over the past week. In the past five days, Golem has deposited a total of 29,000 ETH, which is equivalent to nearly $90 million, to crypto exchanges such as Binance, Bitfinex, and Coinbase, according to on-chain data.<\/p>\n\n\n\n

Will Ethereum ETF serve as significant catalyst for ETH?<\/strong><\/h3>\n\n\n\n

The sanction of the spot Ethereum ETF<\/a> in the United States is indeed nearing, as confirmed by Katherine Dowling, the Chief Compliance Officer of Bitwise. Since all issuers have submitted their S-1 amendments, analysts anticipate that the approval will be granted by July 18, approximately next week.<\/p>\n\n\n\n

Institutional investors appeared to accumulate Ethereum before the ETF's approval. There was a $10.2 million increase in inflows to Ethereum investment products last week. As traders and investors adjust their positions in anticipation of final approval, numerous market analysts predict these products will generate inflows. The ETH price experienced a 22% increase, and robust institutional inflows drove bullish momentum following the SEC<\/a>‘s approval of the Ethereum ETFs' 19b-4 filings. A comparable trend was observed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Whale made a recent purchase, coinciding with the upcoming Ethereum ETF approval. The Ether price remains above the support level of $3,000. As we draw nearer to the eagerly anticipated approval of the spot Ethereum ETF, the Ethereum (ETH) price has experienced a substantial increase, reaching $3,100. Furthermore, the Ethereum billionaires encourage the ETH price […]<\/p>\n","protected":false},"author":59,"featured_media":83424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[6305,17610,16885],"class_list":["post-83749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-ethereum-whales","tag-ethreum-etf","tag-spot-ethereum-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/etf.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83749"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83424"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}