{"id":631537,"date":"2024-07-25T17:00:36","date_gmt":"2024-07-25T17:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=631537"},"modified":"2024-07-25T11:13:42","modified_gmt":"2024-07-25T11:13:42","slug":"ethereum-whales-accumulate","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-whales-accumulate\/","title":{"rendered":"Ethereum Whales Rapidly Accumulate ETH Amid Price Decline"},"content":{"rendered":"

Ethereum whales<\/span><\/a> have been busy in the market, as on-chain data shows that these investors have been heavily accumulating the second-largest crypto token by market cap. This comes amid a price decline in <\/span>ETH\u2019s price<\/span><\/a>, with history <\/span>suggesting<\/span><\/a> that the crypto token might suffer more price declines in the short term.\u00a0<\/span><\/p>\n

Whales Accumulate More ETH<\/h2>\n

Data from the market intelligence platform <\/span>IntoTheBlock<\/span><\/a> shows that Ethereum Whales bought 297,670 ETH ($1 billion) on July 24. The previous day, these whales also bought almost 400,000 ETH. Further data shows an increase of over 28% in the inflows into these <\/span>whales’ addresses<\/span><\/a> in the last seven days.\u00a0\u00a0<\/span><\/p>\n

Related Reading: Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days<\/a><\/div>\n
\"Ethereum
Source: IntoTheBlock<\/figcaption><\/figure>\n

The decline in outflows from these addresses further highlights these investors’ bullish sentiment towards Ethereum despite its <\/span>underperformance<\/span><\/a>. Outflows from these accounts have declined by over 14% in the last seven days and down by over 16% in the last 30 days.\u00a0<\/span><\/p>\n

\"Ethereum
Source: IntoTheBlock<\/figcaption><\/figure>\n

The <\/span>large holders’ netflow metri<\/span><\/a>c on IntoTheBlock also highlights this wave of accumulation among Ethereum whales, as net flows have increased by over 313%. This means that these investors are heavily accumulating rather than opting to sell their ETH holdings.\u00a0<\/span><\/p>\n

\"Ethereum
Source: IntoTheBlock<\/figcaption><\/figure>\n

On-chain analytics platform Santiment noted that this significant increase in ETH’s whale activity is due to the <\/span>Spot Ethereum ETFs<\/span><\/a>, which began trading on July 23. The platform made this observation while revealing that since July 17, the amount of ETH transfers has exceeded over $100,000 in value, which is over 64% higher than the number of BTC transfers and over 126% higher than the USDT transfers on the <\/span>Ethereum network<\/span><\/a>.\u00a0<\/span><\/p>\n

\"Ethereum
Source: Santiment<\/figcaption><\/figure>\n

The Spot Ethereum ETFs had undoubtedly presented a bullish outlook for Ethereum even before they launched, as crypto analysts like RLinda <\/span>predicted<\/span><\/a> that ETH could rise to $4,000 thanks to these funds. As such, it is no surprise that Ethereum whales continue to accumulate the crypto token in anticipation of higher prices from ETH.\u00a0<\/span><\/p>\n

The Spot Ethereum ETFs Launch Might Be A Headwind At First<\/h2>\n

The Spot Ethereum ETFs were <\/span>projected<\/span><\/a> to be the catalyst that would spark a <\/span>massive rally<\/span><\/a> in ETH\u2019s price, and that is likely to happen at some point. However, history suggests these funds may act as a headwind for Ethereum at first, similar to the fate that Bitcoin suffered immediately after the <\/span>Spot Bitcoin ETFs launched<\/span><\/a> earlier this year.\u00a0<\/span><\/p>\n

Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Here\u2019s When<\/a><\/div>\n

Bitcoin experienced significant price declines, largely thanks to the outflows from <\/span>Grayscale\u2019s Bitcoin Trust (GBTC)<\/span><\/a>. A similar situation is already playing out for ETH with Grayscale\u2019s Ethereum Trust (ETHE). Interestingly, Grayscale\u2019s ETHE <\/span>experienced<\/span><\/a> a net outflow of $484.1 million on day 1 of trading, much larger than the net outflows GBTC experienced on day 1, and GBTC is bigger.\u00a0<\/span><\/p>\n

Considering this, Ethereum could face significant selling pressure from Grayscale\u2019s ETHE. <\/span>Data<\/span><\/a> from Farside Investors shows that the Spot Ethereum ETF experienced a net outflow of $326.9 million on July 24 (day 2), likely just the start of the massive outflows that could eventually pour out from the fund.\u00a0<\/span><\/p>\n

\"Ethereum
ETH price struggles against bears | Source: ETHUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum whales have been busy in the market, as on-chain data shows that these investors have been heavily accumulating the second-largest crypto token by market cap. This comes amid a price decline in ETH\u2019s price, with history suggesting that the crypto token might suffer more price declines in the short term.\u00a0 Whales Accumulate More ETH Data from the market intelligence platform IntoTheBlock shows that Ethereum Whales bought 297,670 ETH ($1 billion) on July 24. The previous day, these whales also bought almost 400,000 ETH. Further data shows an increase of over 28% in the inflows into these whales’ addresses in the last seven days.\u00a0\u00a0 Related Reading: Machine Learning Algorithm Predicts Shiba Inu Price Will Rise 119% In 5 Days The decline in outflows from these addresses further highlights these investors’ bullish sentiment towards Ethereum despite its underperformance. Outflows from these accounts have declined by over 14% in the last seven days and down by over 16% in the last 30 days.\u00a0 The large holders’ netflow metric on IntoTheBlock also highlights this wave of accumulation among Ethereum whales, as net flows have increased by over 313%. This means that these investors are heavily accumulating rather than opting to sell their ETH holdings.\u00a0 On-chain analytics platform Santiment noted that this significant increase in ETH’s whale activity is due to the Spot Ethereum ETFs, which began trading on July 23. The platform made this observation while revealing that since July 17, the amount of ETH transfers has exceeded over $100,000 in value, which is over 64% higher than the number of BTC transfers and over 126% higher than the USDT transfers on the Ethereum network.\u00a0 The Spot Ethereum ETFs had undoubtedly presented a bullish outlook for Ethereum even before they launched, as crypto analysts like RLinda predicted that ETH could rise to $4,000 thanks to these funds. As such, it is no surprise that Ethereum whales continue to accumulate the crypto token in anticipation of higher prices from ETH.\u00a0 The Spot Ethereum ETFs Launch Might Be A Headwind At First The Spot Ethereum ETFs were projected to be the catalyst that would spark a massive rally in ETH\u2019s price, and that is likely to happen at some point. However, history suggests these funds may act as a headwind for Ethereum at first, similar to the fate that Bitcoin suffered immediately after the Spot Bitcoin ETFs launched earlier this year.\u00a0 Related Reading: Analyst Says Solana Price Will Surge 1,000% To $1,800, Here\u2019s When Bitcoin experienced significant price declines, largely thanks to the outflows from Grayscale\u2019s Bitcoin Trust (GBTC). A similar situation is already playing out for ETH with Grayscale\u2019s Ethereum Trust (ETHE). Interestingly, Grayscale\u2019s ETHE experienced a net outflow of $484.1 million on day 1 of trading, much larger than the net outflows GBTC experienced on day 1, and GBTC is bigger.\u00a0 Considering this, Ethereum could face significant selling pressure from Grayscale\u2019s ETHE. Data from Farside Investors shows that the Spot Ethereum ETF experienced a net outflow of $326.9 million on July 24 (day 2), likely just the start of the massive outflows that could eventually pour out from the fund.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":631577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,7931,6931,8686,78803],"class_list":["post-631537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Whales Rapidly Accumulate ETH Amid Price Decline<\/title>\n<meta name=\"description\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Whales Rapidly Accumulate ETH Amid Price Decline","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-whales-accumulate\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-whales-accumulate\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum-whales.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum-whales.jpeg?fit=1792%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","ethereum","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-07-25T17:00:36Z","datePublished":"2024-07-25T17:00:36Z","dateModified":"2024-07-25T17:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Whales Rapidly Accumulate ETH Amid Price Decline\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-whales-accumulate\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-whales-accumulate\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Ethereum-whales.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Ethereum-whales.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-07-25T17:00:36Z\",\"datePublished\":\"2024-07-25T17:00:36Z\",\"dateModified\":\"2024-07-25T17:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum-whales.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/631537"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=631537"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/631537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/631577"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=631537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=631537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=631537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}