While Bitcoin Falls, Whales Hit the Water for Ethereum: Close to a Billion Dollars Collected!

Popular cryptocurrency analyst Ali Martinez said that the appetite of Ethereum (ETH) whales has increased.

In his social media post dated June 12, Ali Martinez included whales' Ethereum purchases. He noted that whales purchased more than 240 thousand Ethereums worth $840 million during the last price drop:

Whales bought more than 240,000 Ethereum during the recent Ethereum price drop. This reached a total of approximately 840 million dollars!

Behind the declines in recent days were the mixed inflation data from the USA and the fact that investors started to keep their distance from the risk markets.

Ethereum ETF expectation

Analysts interpreted the evaluation of declines as buying as a clear indicator of the medium-term upward expectation and touched upon the spot Ethereum ETF expectation.

Ethereum, which received the first approval from the US Securities and Exchange Commission in the ETF process, is expected to reach its final conclusion in late June-early July.

Despite all this positive news, the fact that the Ethereum price is only 10% above the ETF approval news level continues to whet the appetite of whales.

According to CoinGecko data, Ethereum, which has lost 0.5% in value in the last 24 hours, is traded at $ 3,500 at the time of writing.