Ethereum Whales Don Dey Collect $300M as ETF Money Don Hit $1.7B
Ethereum whales don still dey gather like $300 million worth ETH during the weekend through Galaxy Digital’s OTC desk, wey push one address holdings reach 79,461 ETH. BlackRock’s iShares Ethereum Trust ETF gather $1.7 billion inflows inside ten trading sessions, wey cause 40% rise for ETF-related ETH holdings for one month, according to Dune Analytics. Glassnode yan say over 200 new addresses hold pass 10,000 ETH since July. ETH price drop below $3,400 before e bounce back to $3,560 as people dey expect new liquidity and possible Fed monetary easing. Even with August typical bearish season wey dey follow Bitcoin trend, the steady whale accumulation and record ETF inflows fit mean say ETH traders get bullish momentum.
Bullish
Di-stop di accumulashin of 79,461 ETH by whales, plus record $1.7 billion ETF inflows, show say institutional and on-chain demand for Ethereum strong. For short term, dis kain buying pressure fit help ETH price bounce back pass $3,500, e dey fight normal August seasonality. As we dey look front, steady demand from whales and growth for ETF holdings fit reduce supply available and make bullish momentum grow, but traders suppose dey monitor macro issues like Fed policy and overall crypto liquidity.