Whale Activity Drives Ethereum Price Surge
- A Hyperliquid whale swapped 1,107 BTC for 34,422 ETH over five days and staked the entire amount.
- Swing trader wallet (0x4cee) moved $32.17 million USDC to Binance on Sept. 20 and retrieved approximately 7,567 ETH.
- Spot Ethereum ETFs experienced a $140 million outflow in the week leading to Sept.18.
- Ethereum’s price reached near $2,738, marking a rise of about 6% in the last day and an increase of over 11% in the past month.
Recent whale activity has significantly influenced Ethereum’s market dynamics, with substantial BTC-to-ETH swaps and staking actions indicating a medium-term investment strategy by large holders rather than funds.
The strategic movements by whales have played a crucial role in driving Ethereum’s price upward, despite significant outflows from spot ETFs recently. Source
