Ethereum Spot ETF Anticipation Spurs 64% Increase in ETH Whale Activity Compared to BTC

Recent on-chain data indicates a significant surge in whale activity on the Ethereum blockchain, likely driven by the anticipation surrounding the approval of spot exchange-traded funds (ETFs).

Ethereum has experienced 77,200 whale transactions since the 17th of this month, surpassing Bitcoin's 47,000 and Tether's 34,100 transactions during the same period.

The "Whale Transaction Count," which tracks transfers of at least $100,000, shows that Ethereum's activity has outpaced both Bitcoin and Tether, suggesting heightened interest from large investors.

This increase in whale transactions corresponds with the U.S. Securities and Exchange Commission's approval of Ethereum spot ETFs, which is seen as a bullish development.

Data from the analytics platform IntoTheBlock reveals that large holders, defined as those owning at least 0.1% of Ethereum's total supply, have been increasing their holdings.

This trend indicates a positive net flow into these investors' wallets, supporting the view that whales are accumulating Ethereum in response to the recent market developments.

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