Summary
- It was reported that whale investors' purchasing of Ethereum (ETH) continued despite the bear market over the past weekend.
- One whale investor is said to have accumulated about $300 million worth of Ethereum through an over-the-counter deal with Galaxy Digital.
- Around $1.7 billion flowed into the Ethereum spot ETF over 10 trading days, and on-chain holdings reportedly jumped more than 40% within a month.
Despite the bearish market continuing over the weekend due to macroeconomic deterioration, whale investors have continued purchasing Ethereum (ETH).
On the 4th (local time), cryptocurrency-focused media outlet Cointelegraph, citing data from Arkham Intelligence, reported, "Recently, someone has been accumulating a huge amount of Ethereum, and one whale has amassed about $300 million worth of Ethereum through an over-the-counter deal with Galaxy Digital."
Institutional and whale investors continue to accumulate Ethereum, as seen by the inflow of approximately $1.7 billion into BlackRock’s Ethereum spot ETF product over 10 trading days.
According to Dune Analytics data, the on-chain holdings of Ethereum spot ETFs surged by over 40% over the past month.
YM Lee
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