Prominent blockchain tracking platform Whale Alert has recently captured the attention of the cryptocurrency community by revealing a staggering $603.3 million in Ethereum that moved within just one hour. This eye-popping series of transactions involved six massive transfers, each exceeding $100 million in ETH.
The latest updates indicate that 168,000 ETH changed hands, transferring from unknown wallets—a move that certainly raises eyebrows in the crypto world. Each transfer represented approximately 27,970 ETH, translating into a value ranging from $100.5 million to $100.7 million.
As these significant transactions were happening, the price of Ethereum, the second-largest cryptocurrency by market capitalization, surged nearly 6%, climbing from approximately $3,430 to $3,628. Although it experienced a slight retracement of around 1.5%, the current trading price stands at $3,575.
Simultaneously, excitement builds around the BlackRock Ethereum ETF, which recently hit a remarkable milestone. Prominent Chinese crypto journalist Colin Wu reported that the net inflow for Ethereum-based ETFs reached nearly $58.78 million in a single day, with BlackRock’s ETHA accounting for a substantial $33.88 million of that total. This impressive sum has pushed the total inflows for BlackRock’s Ethereum ETF to a staggering $3.559 billion.
Interestingly, this surge in Ethereum’s popularity coincides with a significant outflow in BlackRock’s Bitcoin spot ETF (IBIT), which faced its largest outflow ever: $332.6 million, or roughly 3,413 BTC. Many observers have been closely monitoring these movements, particularly given the existing critique from notable figures like Robert Kiyosaki, who suggests that BlackRock is manipulating Bitcoin prices to keep them below $100,000.
With all eyes on this unfolding drama, the blockchain community watches closely. As these giants of finance and technology navigate the murky waters of cryptocurrency investments, one question looms: what does it all mean for the future of digital assets? The sudden spike in ETH transactions and the dynamics in ETF flows could indicate more than just market whims; they might suggest a strategic pivot that could reshape the crypto landscape.
