Ethereum whales have been making big moves lately, and it’s all because of the new spot exchange-traded funds (ETFs). These big investors hold a lot of Ethereum and have been extra busy on the blockchain.
Santiment, a company that monitors blockchain activity, has been tracking these whales. They look at something called the “Whale Transaction Count.” This counts how many big transfers happen on the network—we’re talking $100,000 or more. When this number is high, whales are doing a lot of trading.
Since January 17, Ethereum has seen a whopping 77,200 whale transactions. That’s way more than Bitcoin, which had 47,000, or Tether, which had only 34,100. This sudden jump in activity is probably due to the new ETFs that just launched.
People have been waiting long for these ETFs, and the SEC, like the financial police, finally said yes to them. This got everyone excited, especially the whales. They started moving their money around even before the ETFs officially launched.
Even though whales are active, we must learn precisely what they do. Are they buying? Selling? It’s hard to say for sure. But since most people think the ETFs are good news, there’s a good chance the whales are buying more Ethereum.
Another company called IntoTheBlock has some info that backs this up. They watch “large holders”—investors who own at least 0.1% of Ethereum. These big players have been buying more Ethereum lately. Just yesterday, they bought 112,900 ETH—that’s about $391 million worth!
Whale Moves Hint at Bullish Ethereum Outlook
To put that in perspective, the new ETF only got about $106 million in new money. So, these whales are buying way more than what’s going into the ETF.
All this activity shows that big investors are interested in Ethereum right now. They might think the price will go up because of these new ETFs. When whales move, it can affect the whole market.
It’s important to remember that the crypto world can change fast. What looks like a trend today might be different tomorrow. But for now, the signs point to whales being bullish on Ethereum.
This whale activity is just one piece of the puzzle. Other things like new tech developments, market trends, and world events can also affect Ethereum’s price. Watching what the big players do can give us clues about what might happen next in the crypto world.
So, watch those whales – their moves might hint at where Ethereum is headed shortly. Currently, Ethereum is trading at approximately $3,460, the same as it was a week ago.
![](https://btcpolitan.com/wp-content/uploads/2024/07/image-55-1024x570.png)
Source: ETHUSD on TradingView
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