In anticipation of the highly awaited Ethereum ETF launch tomorrow, significant whale activity has been observed in the market. Two major whales have collectively deposited 25,865 ETH, valued at $89 million, on centralized exchanges (CEX) over the past nine days. Notably, Whale 0xbec has been particularly active, moving substantial amounts of ETH to Binance.
Whale 0xbec has transferred 11,965 ETH to Binance in the last five days, with an average transaction price of $3,457 per ETH, totaling $41.4 million. This whale’s latest activity was recorded 12 hours ago, holding 51,462 ETH, approximately valued at $180 million. The whale’s trading strategy appears successful, with an estimated profit of $29.9 million, reflecting a 14.7% gain.
The PnL overview of Whale 0xbec reveals detailed insights into its trading activities. The whale’s total purchases amount to 67,018K ETH, with a value of $203.352 million and an average purchase price of $3.034K per ETH. On the sell side, the whale has offloaded 15,566K ETH, valued at $53.529 million, at an average selling price of $3.439K per ETH. These transactions have resulted in a realized gain of $6.299 million (13.336%) and an unrealized gain of $23.588 million (15.109%).
Examining the recent transaction patterns of Whale 0xbec provides further clarity on its trading strategy. On July 16, 2024, the whale transferred 4.966K ETH valued at $16.825 million, followed by an outflow of 6.999K ETH worth $24.543 million on July 22, 2024. These movements indicate strategic positioning ahead of the Ethereum ETF launch, likely aimed at capitalizing on expected market volatility.
Ethereum ETFs Launch on CBOE Boosts Ether Investment OptionsThe second whale, Multisign 0x7d6, has also been actively positioning itself ahead of the Ethereum ETF launch. Over the past nine days, this whale has transferred 13,900 $ETH to OKX at an average price of $3,427, totaling $47.6 million.
The most recent transaction occurred 11 hours ago. Multisign 0x7d6 holds a substantial amount of Ethereum, with 188,070 ETH valued at approximately $657 million, spread across two wallets. This whale’s strategic moves indicate a calculated effort to leverage upcoming market developments and maximize potential gains.
Today’s price of Ethereum stands at $3,495.64, with a 24-hour trading volume of $15,749,632,711. Despite a slight decline of 0.37% in the last 24 hours, Ethereum has seen a 4.56% price increase over the past week. With a circulating supply of 120 million ETH, the current market capitalization of Ethereum is valued at $420,693,144,219.
