{"id":16439,"date":"2024-07-28T17:19:07","date_gmt":"2024-07-28T17:19:07","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=16439"},"modified":"2024-07-28T17:19:07","modified_gmt":"2024-07-28T17:19:07","slug":"ethereums-price-drop-doesnt-deter-whales-3-50-million-eth-moved","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/ethereums-price-drop-doesnt-deter-whales-3-50-million-eth-moved\/","title":{"rendered":"Ethereum&#8217;s Price Drop Doesn&#8217;t Deter Whales, 3.50 Million ETH Moved"},"content":{"rendered":"\n<p>Despite the launch of Spot Ethereum Exchange-Traded Funds (ETFs), the price of Ethereum has not seen a positive impact. Some analysts view the ETF launch as a &#8220;sell the news&#8221; event, reflected in Ethereum&#8217;s price drop to $3,100 from $3,500.<\/p>\n<p>However, on-chain data reveals interesting activity among Ethereum whales, with a significant increase in large transactions recently.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Massive_ETH_Movements_by_Ethereum_Whales\"><\/span><strong>Massive ETH Movements by Ethereum Whales<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to data from IntoTheBlock, Ethereum whales made a significant move of 3.50 million ETH within a 24-hour period on July 24, marking the highest volume since the ETF launch.<\/p>\n<p>The whale activity is tracked based on transactions exceeding $100,000, showing a continuous increase. On July 25, whale transactions reached 3.68 million ETH.<\/p>\n<p>Whale_Alerts also reported notable ETH transactions, signifying institutional demand or accumulation events. While a combination of outflows and accumulations is observed, outflows into exchanges seem to dominate currently.<\/p>\n<p>IntoTheBlock data indicates an increase of 12.42% in inflows and 38.17% in outflows from large wallets over seven days, resulting in a significant outflow dominance.<\/p>\n<p><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Ethereum_Outlook\"><\/span><b>Current Ethereum Outlook<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Ethereum market depicts dynamic whale activity despite prevailing market conditions. Bullish whales continue to accumulate ETH from exchanges, showing resilience.<\/p>\n<p>While Spot Ethereum ETFs witness substantial activity with significant inflows, outflows from the Grayscale Ethereum Trust ETF (ETHE) have surpassed $1.5 billion, balancing the collective inflows.<\/p>\n<p>At present, Ethereum is priced at $3,210, marking a 1.5% decrease in the last 24 hours.<\/p>\n<p><em>Image source: Pexels, TradingView<\/em><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the launch of Spot Ethereum Exchange-Traded Funds (ETFs), the price of Ethereum has not seen a positive impact. Some analysts view the ETF launch as a &#8220;sell the news&#8221; event, reflected in Ethereum&#8217;s price drop to $3,100 from $3,500. However, on-chain data reveals interesting activity among Ethereum whales, with a significant increase in large [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16440,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ethereum's Price Drop Doesn't Deter Whales, 3.50 Million ETH Moved - Bitrabo","description":"Despite the launch of Spot Ethereum Exchange-Traded Funds (ETFs), the price of Ethereum has not seen a positive impact. Some analysts view the ETF launch as a \""},"footnotes":""},"categories":[316],"tags":[6637,984,902,768,561,1110,467,5190,3115,457],"class_list":["post-16439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-3-50-million-eth","tag-drop","tag-eth","tag-ethereum","tag-million","tag-move","tag-price","tag-price-drop","tag-undeterred","tag-whales"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=16439"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/16440"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=16439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=16439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=16439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}