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Whale Activity in Ethereum Hits Historic High

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by Giorgi Kostiuk

a year ago

Ethereum sees a surge in large investor activity, which could influence its market value.

Rise of Whale Activity and Its Implications

According to IntoTheBlock data, Ethereum's large transaction daily count surpassed 10,000, the highest since August. Transactions of over $100,000 may indicate buying or selling moves. Large sell-offs may lower ETH price, while consistent buying can push it higher.

Comeback of Spot Ethereum ETFs

Spot Ethereum ETFs are experiencing better inflows after underperformance. On November 13, Farside Investors data showed nine ETFs with a cumulative inflow of $146.9 million. Fidelity’s FETH led the inflow, followed by BlackRock and Bitwise. However, Grayscale ETHE saw outflows.

Analysis and Forecasts for Ethereum

Analysts suggest Ethereum could reach $3,500 soon if current trends continue. ETH has already surpassed the $3,000 mark for the first time since July of this year.

Increased whale activity could significantly affect Ethereum’s market dynamics, especially with renewed interest in spot ETFs.

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