Hi Guys,

It's Big & Big #alert About $ETH Bulls Reversal !!!

Ethereum (ETH) Bulls Revvs Fueled by Increased Whales’ On-chain Activity

The inevitable listing of spot Ethereum (ETH) ETFs in the United States has attracted significant attention from institutional investors amid the general crypto bullish sentiments.

Ethereum (ETH), the largest smart contracts and web3 ecosystem that has attracted over $62 billion in total value locked (TVL), has signaled a bullish outlook on the horizon.

The large-cap altcoin, with a fully diluted valuation of about $435 billion and a daily average traded volume of around $17.4 billion, has been at the epicenter of crypto speculation since the recent approval of spot Ether ETFs in the United States.

Moreover, Bitcoin price surged to its recent all-time high (ATH) immediately after the approval and listing of spot BTC ETFs in the United States.

Ethereum Whales on the Hunt

With other global jurisdictions following the footsteps of the United States in approving spot Ether ETFs, the underlying bullish sentiment has dramatically increased.

According to on-chain data provided by market intelligence platform Santiment, Ethereum addresses with a balance of between 10k and 100k added more than 240k Ether, worth over $840 million, in the past 48 hours.

Whales have bought over 240,000 $ETH during the recent #Ethereum price dip, totaling around $840 million! pic.twitter.com/j5jnxJul4q

A similar trend has been observed by CryptoQuant, whereby more than 336k Ether has been withdrawn from Coinbase Global Inc.

(NASDAQ: COIN) in the past 24 hours. CryptoQuant noted that the recent Coinbase Ether withdrawal of more than $400 million is the fifth withdrawal exceeding 150k since the beginning of this year.

“These large transactions (made in a single day) range between $400 million and $1.1 billion each, it’s overly optimistic to think that individual investors are behind them.

#BTCFOMCWatch #TopCoinsJune2024 #ETHETFsApproved #Write2Earrn