The whale withdrew a whopping 96,639 ETH from the Coinbase exchange in early September when Ethereum was in a bear market. Back then, the second-largest cryptocurrency was trading at the $1,500 level. Elon Musk and Dogecoin Founder Stun Crypto Community With Posts About TruthAccording to CoinGecko, the ETH price is currently sitting at $3,397 after dipping 2.3% over the past 24 hours.
Notably, the whale moved to cash out the latest batch of its ETH holdings right after the launch of Ether ETFs. As , an ancient Ethereum address containing nearly 1,000 ETH tokens was also activated right on the cusp of the ETH launch day. This was the first activation of such an old wallet during July. Meanwhile, Ethereum ETFs are benefiting from strong investor enthusiasm.
With that being said, Grayscale's outflows will likely remain a bearish catalyst for the Ether price in the near future despite strong inflows recorded by BlackRock's and Fidelity's products. QCP has maintained a positive ETH outlook, noting that it took Bitcoin more than two months to reach a new record peak following the launch of ETHs in January.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
John Bollinger Issues Positive Litecoin Price Prediction, Samson Mow Slams ETH Ahead of Ethereum ETF Launch, SHIB Burn Rate Spikes 482%: Crypto News Digest by U.TodayJohn Bollinger Issues Positive Litecoin Price Prediction, Samson Mow Slams ETH Ahead of Ethereum ETF Launch, SHIB Burn Rate Spikes 482%: Crypto News Digest by U.Today