Even though the launch of Spot Ethereum ETFs hasn’t boosted Ethereum’s price as expected, some big investors (whales) are still buying up Ethereum.
Whales Are Active
Data shows that the amount of Ethereum moved by whales recently reached a monthly high. On July 24th, whales moved a whopping 3.5 million ETH in a single day, the highest volume since the ETFs launched.
Outflows vs. Inflows
While some whales are selling, others are buying. Data suggests that more Ethereum is being moved out of wallets and onto exchanges than being moved in. This could mean that some whales are selling their Ethereum, but others are still buying.
ETFs Are Busy
The new Spot Ethereum ETFs are seeing a lot of activity. People are putting money into them, but the Grayscale Ethereum Trust ETF (ETHE) is seeing a lot of money being pulled out.
Ethereum’s Future
Overall, the situation with Ethereum is mixed. Some whales are selling, but others are still buying. The new ETFs are getting a lot of attention, but it’s unclear how they will impact the price of Ethereum in the long run.
