Despite recent price swings, big Ethereum investors are shaking up the crypto world, hinting at positive vibes. Crypto expert Ali Martinez says these whales gobbled up over 126,000 ETH in just two days, worth about $440 million.
Ali Martinez tweeted the news, highlighting the massive buy-up by these big players. This move has caught the attention of market watchers, who wonder what it might mean for Ethereum’s future.
CryptoQuant CEO Ki Young Ju thinks whales might be getting ready for something big. He noticed more buy orders for smaller cryptocurrencies, suggesting investors are setting intense buy levels. Ju believes this could signal an upcoming rally for altcoins.
Recent changes in the crypto world are drawing in these big investors. The launch of Ethereum spot ETFs in the US has turned heads, and as Ethereum celebrates its ninth birthday, it’s likely to attract even more interest from big institutions.
Ethereum ETFs Gain Traction as Crypto Market Rollercoaster Continues
Data from Farside Investors shows a positive shift for US-listed Ethereum ETFs. For the first time since their July 31 launch, these funds saw more money coming in than going out. This change mostly came from fewer people pulling money from the Grayscale Ethereum Trust.
But it’s not all smooth sailing in the crypto seas. Thursday saw a dip in prices across the board. Bitcoin fell to $64,034, down 2.77% from the day before. Ethereum took a bigger hit, dropping 4.21% to $3,175. Some smaller coins felt even more pain, with Solana’s Dogwifhat tumbling 12% and PEPE losing 7% in just 24 hours.
According to CoinGlass, this price drop wiped out a whopping $225 million in crypto bets in one day. It’s a stark reminder that crypto prices can still be a wild ride even with big investors buying in.
The contrast between whale activity and market prices shows how tricky the crypto world can be. While big players are loading up on Ethereum, suggesting they see long-term value, short-term price swings can still catch traders off guard.
As the crypto market continues to evolve, all eyes are on these whale moves and what they might mean for the future of Ethereum and the broader crypto landscape.
Related Reading | Ethereum ETFs See First Positive Flow Since Launch
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