đđBuckle 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. đ This has sparked a surge of optimism among traders about the altcoin's price trajectory.
However, there's a twist in the tale! đ 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). đ±
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! đ
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. đ°
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. đ
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! đ
So, while we remain bullish on BTC, it's clear that the Ethereum market is a roller coaster ride worth watching! đąđ