Will Ethereum Approval Bring a Rise to This Altcoin: 40 Million Purchases Have Arrived!

Cryptocurrency whale made millions of dollars in purchases of Binance-backed altcoins.

According to data provided by the on-chain analysis platform Spot On Chain, three new multisig wallet whales purchased 43.19 million Ethena (ENA) worth $35.6 million last week.

Whales are thought to have bought ENA due to the expectation that the US Securities and Exchange Commission (SEC) will approve Ethereum ETFs.

Ultimately, the SEC approved the ETF in question and the whales still haven't sold. This situation was interpreted as an indicator of continued upward expectations.

Thanks to the 28% increase in the price in the last 7 days, the profit of these whales was approximately 2.05 million dollars.