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๐Ÿš€๐Ÿš€Buckle up, BTC enthusiasts! Ethereum (ETH) is making waves, hovering near the $4,000 mark, thanks to the US SEC's approval of spot ETH ETFs. ๐ŸŽ‰ This has sparked a surge of optimism among traders about the altcoin's price trajectory. However, there's a twist in the tale! ๐ŸŒ€ The increased inflows of ETH into crypto exchanges could spell trouble. Why, you ask? Well, according to IntoTheBlock, such significant inflows usually indicate a selling trend as people rush to secure profits or react to fear, uncertainty, and doubt (FUD). ๐Ÿ˜ฑ Here's a fun fact: The volume of Ether entering exchanges reached its peak since January, with a net inflow of 140.66k ETH on May 26th. That's the highest net deposits in over four months! ๐Ÿ“ˆ Now, who's cashing in on these gains? Lookonchain observed a "smart money" investor who recently sold 3,025 ETH for 11.8 million DAI at an ETH price of $3,904, bagging a cool profit of approximately $1.11 million. ๐Ÿ’ฐ Another Ethereum whale was spotted withdrawing 2,856 ETH, valued at $11 million, from Kraken. This whale had previously accumulated 35,176 ETH from the same exchange at an average price of $428 per ETH. ๐Ÿ‹ But here's the kicker: If the whale had held onto their ETH, their profit would now be around $122 million. Talk about a missed opportunity! ๐Ÿ˜… So, while we remain bullish on BTC, it's clear that the Ethereum market is a roller coaster ride worth watching! ๐ŸŽข๐Ÿ‘€

๐Ÿš€๐Ÿš€Buckle up, BTC enthusiasts! Ethereum (ETH) is making waves, hovering near the $4,000 mark, thanks to the US SEC's approval of spot ETH ETFs. ๐ŸŽ‰ This has sparked a surge of optimism among traders about the altcoin's price trajectory.

However, there's a twist in the tale! ๐ŸŒ€ The increased inflows of ETH into crypto exchanges could spell trouble. Why, you ask? Well, according to IntoTheBlock, such significant inflows usually indicate a selling trend as people rush to secure profits or react to fear, uncertainty, and doubt (FUD). ๐Ÿ˜ฑ

Here's a fun fact: The volume of Ether entering exchanges reached its peak since January, with a net inflow of 140.66k ETH on May 26th. That's the highest net deposits in over four months! ๐Ÿ“ˆ

Now, who's cashing in on these gains? Lookonchain observed a "smart money" investor who recently sold 3,025 ETH for 11.8 million DAI at an ETH price of $3,904, bagging a cool profit of approximately $1.11 million. ๐Ÿ’ฐ

Another Ethereum whale was spotted withdrawing 2,856 ETH, valued at $11 million, from Kraken. This whale had previously accumulated 35,176 ETH from the same exchange at an average price of $428 per ETH. ๐Ÿ‹

But here's the kicker: If the whale had held onto their ETH, their profit would now be around $122 million. Talk about a missed opportunity! ๐Ÿ˜…

So, while we remain bullish on BTC, it's clear that the Ethereum market is a roller coaster ride worth watching! ๐ŸŽข๐Ÿ‘€

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐ŸŽ‰๐ŸŽ‰Big news for BTC enthusiasts! Gemini, the crypto exchange founded by the Winklevoss twins, has made a full recovery from its crypto lending arm's bankruptcy, marking one of the most successful industry recoveries to date.๐Ÿ’ช๐Ÿ’ช Gemini announced that its Earn customers have received $2.18 billion of their digital assets in kind.๐Ÿค‘๐Ÿค‘ That means if you lent one bitcoin, you get one bitcoin back, along with any appreciation of your assets since you lent them.๐Ÿš€๐Ÿš€ The online crypto community is cheering for this victory, praising Gemini's leadership for stepping up after losing customer funds in Genesis Global.๐Ÿ‘๐Ÿ‘ Genesis and Gemini both collapsed in the fallout of FTX and Alameda Research in late 2022. However, Genesis has now received court approval to repay over $3.5 billion to its creditors, one of which was Gemini.๐Ÿ‘๐Ÿ‘ Gemini's recovery stands out against other fallen crypto firms in 2022, which have only managed to recover a fraction of their customers' assets. Gemini's repayment is $1 billion in excess of when it froze withdrawals, marking a 232% asset recovery in USD terms.๐Ÿ’ฐ๐Ÿ’ฐ Gemini insists that the Genesis bankruptcy was not a crypto problem, but "old-fashioned financial fraud compounded by a lack of regulatory clarity."๐Ÿ”๐Ÿ” In a nutshell, Gemini Earn has managed to recover 97% of customers' lost crypto. A huge win for the crypto industry!๐ŸŽŠ๐ŸŽŠ
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๐Ÿš€๐Ÿš€๐Ÿš€ Bitcoin enthusiasts, buckle up! Long-term Bitcoin holders (holding for 1-2 years) have been observed to sell portions of their holdings during bullish phases when BTC's price is on the rise. But wait, there's more! ๐ŸŽ‰ Those with Bitcoin UTXOs (unspent transaction outputs) older than 3 years are still accumulating more BTC, showing a strong bullish sentiment. So, it's not all sell, sell, sell! ๐Ÿ’ช๐Ÿ’ช CryptoQuant's latest findings reveal that over 50% of BTC's total supply has been inactive on the blockchain for over a year. This suggests that long-term holders are confident about Bitcoin's future value despite price fluctuations. ๐Ÿ“ˆ๐Ÿ“ˆ As BTC's price recovered to $56,000, the 1-year and 2-year holder cohorts transitioned from a selling phase to a holding one, signaling renewed confidence in Bitcoin's upside potential. The technical outlook is at a critical juncture, testing significant support levels. But long-term holders' behavior suggests an underlying bullish sentiment. ๐Ÿš€๐Ÿš€ Glassnode also noted that a group of long-term Bitcoin holders, who had been selling portions of their holdings since December 2023, have started re-accumulating or buying BTC again. This could mean significant volatility may be needed to trigger another wave of sell-offs from these long-term holders. ๐Ÿ˜Ž๐Ÿ˜Ž CryptoQuant warns that a break below the daily Ichimoku cloud could shift market sentiment bearish, potentially leading to a retracement towards $64,000. But don't fret! IntoTheBlock estimates that the next market peak could occur between October 2024 and March 2025. So, hold on to your hats, Bitcoin believers! ๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰
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