Whale Transactions Surge
Ethereum whales have been making waves lately, with the number of large transactions (over $100,000) reaching its highest since March. This surge in activity coincides with the hype surrounding the potential approval of ETH spot ETFs.
Buying or Selling?
While the whales are certainly active, it’s unclear whether they’re buying or selling. However, data from IntoTheBlock suggests that they’ve been net-buying recently. This means that the whales are accumulating ETH, which could potentially fuel a rally.
Market Volatility
The high level of whale activity could lead to volatility in the ETH market. If the whales continue to buy or sell in large quantities, it could cause significant price fluctuations.
Current Price
As of this writing, ETH is trading around $3,750, up over 26% in the past week. The recent whale activity and positive market sentiment have contributed to this price surge.
