While the Bitcoin and cryptocurrency markets bid farewell to a dull and boring second quarter, the first week of July is of critical importance for spot Ethereum ETFs.
Because after the news, expectations increased in the market that ETH ETFs would launch on July 4.
As expectations for ETH ETFs increased, whales also became active.
According to a post by on-chain data provider Spot on Chain, a major whale named Abraxas Capital purchased a massive $203 million worth of ETH from Bitfinex at a price of $3,387 in the last 24 hours.
Accordingly, the price started to increase as the giant whale pulled 60 thousand ETH from Bitfinex.
The giant whale then lent the ETHs he received to Spark, borrowing $119 million worth of stablecoins and depositing them to Binance.
“A huge whale (probably Abraxas Capital) withdrew 60k ETH (worth $203 million) from Bitfinex at $3,387 in the last 17 hours.
Whale then lent ETH to Spark, borrowing $119 million worth of stablecoins, and deposited it on Binance.
“The ETH price increased by approximately 3%, indicating an unrealized profit of $6.27 million.”
Whale, who bought Ethereum at $0.31, sold 7000 ETH!
Apart from the giant corporate whale, an ICO participant also got active. According to EmberCN's post, a whale who participated in the Ethereum ICO in 2015 deposited 7000 ETH to Kraken.
This whale purchased 254,900 ETH at $0.311 in 2015. The whale, which had not moved for 209 days, woke up during the recent rise in ETH price and transferred 7,000 ETH to Kraken, worth $24.28 million.
Currently, this whale still has 40,000 ETH worth $139.5 million.
Ethereum continues to trade at $3,476 at the time of writing.
一个在 2015 年参与以太坊 ICO 了 25.49 万枚 ETH (ICO 价格 $0.311) 的鲸鱼，沉寂 209 天在 15 分钟前将 7,000 ETH ($24.28M) 转进 Kraken。
目前这个鲸鱼仍持有 4 万枚 ETH ($139.5M)。https://t.co/5tsbQP9us9
本文由 #Bitget｜@Bitget_zh 赞助 pic.twitter.com/7JD5leDSS9
— 余烬 (@EmberCN) July 1, 2024
*This is not investment advice.
