Over the past 24 hours, the price of Ethereum (ETH) increased by 7%. Major investors are withdrawing significant amounts in ETH from exchanges, highlighting interest in the asset.
Overview of the Ethereum Situation
During trading, Ethereum has experienced a sharp rise of 7%. Analysts report that over $210 million worth of ETH has been withdrawn from exchanges by major investors, indicating growing interest in this asset.
Institutional Investors Actively Buying Ethereum
One of the most notable moves involved **Abraxas Capital**, which withdrew **29,741 ETH** (~$81 million) from exchanges with an average purchase price of approximately $2,725 for ETH, suggesting a long-term holding strategy. Additionally, **Sharplink Gaming** added **5,072 ETH** worth **$13.5 million**, boosting its total holdings to **210,700 ETH**.
Influence of Hackers and Smart Money
An interesting trend is observed with hackers linked to **GMX** who converted nearly all their stolen funds into 11,700 ETH. This demonstrates that even dishonest actors recognize the value in ETH. Moreover, whale **0x8C08** made a dual purchase—acquiring approximately **$25 million** worth of ETH and additional **8,243 AAVE** tokens.
The rising interest among large investors and market activity could signal positive trends for Ethereum in the near future.
