Ethereum Whales’ Mega Accumulation Spurs 11% Price Surge

• Ethereum whales have collectively acquired over 133,000 ETH, worth $249.5 million, signaling a notable trend in accumulation.
• Large transactions in Ethereum exceeding $100,000 surged by 65.99% in the past 24 hours.
• Ethereum’s price jumped 11.42% to $2,645.07 amid heightened market sentiment following the SEC’s approval of a spot Bitcoin ETF.

In a significant development within the cryptocurrency landscape, Ethereum (ETH) whales are making waves with substantial accumulations, propelling the digital asset to an 11.42% price surge. 

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Address “0xAA15” executed a strategic move by withdrawing 5,762 ETH, valued at approximately $15.06 million, from Binance today. This latest transaction adds to its impressive portfolio, as it has amassed a total of 50,733 ETH, worth a staggering $99.2 million, since September 19, 2023. 

Meanwhile, address “0x9314” displayed similar conviction by investing 7.29 million USDT to acquire 2,800 ETH, marking another substantial addition to its robust holdings. This whale now holds a remarkable 82,780 ETH, totaling around $150.3 million.

The influx of large transactions in the Ethereum market is also catching attention. There is a surge of 65.99% in transactions exceeding $100,000 in the past 24 hours, amounting to a staggering $8.2 billion. This surge indicates a notable shift in Ethereum’s market dynamics, with major players actively participating in substantial transactions.

Fueling this momentum is Ethereum’s price surge, reaching $2,645.07 in the last 24 hours. This surge is attributed to the market hype following the approval of a spot Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC). The approval has generated positive sentiment and increased anticipation for a potential Ethereum ETF approval, pushing the cryptocurrency closer to the $2,700 milestone.

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