Ethereum (ETH) has seen a significant increase of 11.4%, with whales in the crypto ecosystem playing a major role in this change. Data from the crypto analytics platform Lookonchain reveals that a whale with the wallet address “0xAA15” withdrew a total of 5,762 ETH, approximately $15.06 million, from Binance. This whale has purchased a total of 50,733 ETH, worth around $99.2 million, at an average price of $1,955 since Sept. 19, 2023.

Another whale, “0x9314”, has also made a substantial purchase, spending 7.29 million USDT to buy 2,800 ETH. This whale has a robust portfolio, having accumulated a total of 82,780 ETH, worth approximately $150.3 million, at an average price of $1,816 since Jan 1, 2023.

The shift towards Ethereum by these whales is accompanied by $8.2 billion in large transaction volumes, as reported by IntoTheBlock. These transactions, involving at least $100,000 worth of ETH, have increased by 65.99% in the past 24 hours. The activity of these whales is significantly influencing the digital currency as it strives to regain its lost ground.

At the time of writing, Ethereum has risen by 11.42% in the past 24 hours to $2,645.07. The cryptocurrency has grown from a 24-hour low of $2,353.93, driven in part by the market hype following the approval of a spot ETF by the United States Securities and Exchange Commission (SEC). This approval has boosted sentiment that a spot Ethereum ETF might also be imminent, further pushing retail sentiment. Ethereum is now notably eyeing the $2,700 benchmark.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Countries 🇺🇸
Sentiment positive
Relevance Score 1
People None
Companies IntoTheBlock, United States Securities and Exchange Commission, Binance, Lookonchain, U.Today
Currencies Tether, Ethereum
Securities None

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