As revealed thanks to data from Whale alertA previously dormant Ethereum whale has transferred 86 ETH, valued at $325,535, to major American crypto exchange Coinbase.
As revealed thanks to data from Whale alertA previously dormant Ethereum whale has transferred 86 ETH, valued at $325,535, to major American crypto exchange Coinbase.
This whale, identified by the wallet address “0xCc60”, had originally acquired Ethereum during the Genesis Block as a participant in the ICO, where the token was valued at just $0.31. Now this volume of tokens is equivalent to $325,160 and the price of Ethereum is $3,850.
Gamza KhanzadaevThis substantial transaction coincides with increased anticipation surrounding the impending Ethereum ETF decision. In recent days, optimism for a favorable outcome has increased, driving the price of Ethereum up more than 23% since the start of the week.
Analysts now estimate a 75% chance that the SEC will approve the Ethereum ETF, further boosted by the agency’s recent engagement with Ethereum issuers on Form S-1, a securities registration statement. Additionally, a bipartisan group of lawmakers has urged SEC Chairman Gary Gensler to approve Ethereum spot ETFs, adding political pressure to the regulatory decision.
Gamza KhanzadaevThe transfer of the whale could be interpreted as a strategic move to capitalize on market conditions or a simple guarantee by the holder.
However, this whale is not the only major player making moves. Jeffrey Wilcke, one of the co-founders of Ethereum, has sent 10,000 ETH, valued at approximately $37.4 million, to the US exchange Kraken. This transaction is part of a series of large transfers by Wilcke, who has moved a total of 24,300 ETH since the beginning of 2024, for an approximate amount of $75 million.
