"Ethereum, institutional buying continues…additional purchases worth 200 million dollars over 3 hours"
JOON HYOUNG LEE
Summary
- On-chain analytics firm Lookonchain said institutional investors' Ethereum (ETH) buying pressure continues.
- Over the past 3 hours, three newly created wallets received 46,347 (worth 204,000,000 dollars) Ethereum from FalconX.
- It also reported that the U.S. spot Ethereum ETF recorded net inflows for two consecutive trading days.
An analysis found that institutional investors' purchases of Ethereum (ETH) are continuing.
On the 11th (local time), on its official X account, Lookonchain said, "Over the past 3 hours, three newly created wallets received 46,347 Ethereum from FalconX." Those Ethereum are currently worth 204,000,000 dollars (approximately 280 billion won). Lookonchain explained, "Institutions continue to buy Ethereum."
The U.S. spot Ethereum exchange-traded fund (ETF), which reflects institutional inflows, also recorded net inflows for two consecutive trading days as of that day. According to TraderT, the spot Ethereum ETF saw net inflows of 170,000,000 dollars (approximately 240 billion won) in just one day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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