Ethereum Whale Deposits $120M USDT as US Govt Reopens
An anonymous Ethereum whale has deposited $120 million in USDT into Binance to buy more ETH. This Ethereum whale borrowed the funds from Aave to boost its holdings. The massive stablecoin inflow indicates a strong buying intent. The move coincides with President Trump signing a bill to end a 42-day US government shutdown. The reopening lifted market momentum. ETH price rose 2.9% to above $3,500. Ethereum’s market cap nears $430 billion. The global crypto market cap climbed, and trading volumes jumped over 12%. Past stablecoin inflows to exchanges have often preceded rallies. Traders see this as a bullish signal for ETH and broader altcoins.
Bullish
The large ETH accumulation by an anonymous whale and significant stablecoin inflow into Binance signal strong buying pressure. Coupled with the end of the US government shutdown and rising market momentum, this move echoes past events where stablecoin deposits preceded rallies. In the short term, ETH could see further upside as traders chase momentum. Long term, continued whale buying supports a bullish outlook for Ethereum and the broader crypto market.