Ethereum Whales Accumulated $94 Million In ETH In Just Seven Days In Anticipation Of Strong Rebound

Large investors used Ethereum's price crash last week to increase their stash, according to blockchain analytics firm Lookonchain. Ether's price fell as low as sub-$1,600 during this time.

Timeline of Ethereum

After a considerable sell-off in the first half of August, the crypto market has been witnessing high volatility. For over a week, the daily chart showed multiple short-bodied candles in the top two cryptocurrencies, Bitcoin and Ethereum reflecting an uncertain market sentiment.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF). Crypto Players Team Up For ETF In a significant move, prominent players in the race for a bitcoin ETF have turned their attention to the realm of ether futures contracts.

Ethereum (ETH) saw increased activity among major addresses during the drop below $1,650. Four major whales have amassed 56,100 ETH equivalent to $94 million within the past 7 days.

Ethereum (CRYPTO: ETH) whales on Thursday took advantage of the drop in crypto markets to accumulate their holdings. What Happened: Lookonchain reports that four entities collectively acquired $94 million worth of ETH over the course of the past week.

ARK Invest, in partnership with 21Shares, has filed applications for two new exchange-traded funds (ETFs) focused on cryptocurrency futures, according to a preliminary prospectus dated Aug. 24.

A prominent whale in the digital currency space has once again demonstrated their fervor for non-fungible tokens (NFTs) by purchasing a significant amount of the popular $PEPE tokens.

One of the leading cryptocurrency exchanges, Bitstamp, has communicated its intention to conclude its Ether (ETH) staking service for users in the U.S. by September 25, 2023. Upon this action, all staked assets will be returned, and both rewards and principal amounts will be transferred into Bitstamp customer accounts.

Cryptocurrency exchange Bitstamp announced it would end Ethereum (ETH) staking services to its US customers as of September 25. The exchange cited the US regulatory environment as a deciding factor.

The cryptocurrency landscape is evolving rapidly, with institutional interest in Ethereum gaining significant traction. Investment firms ARK Invest and 21Shares are leading the charge and have recently collaborated to propose two Ethereum futures exchange-traded funds (ETFs).

Over the last week, Ethereum (ETH) has seen its price take a slight hit following the general market crash due to reports of a massive Bitcoin sell-off. According to data from CoinMarketCap, ETH is down by 5.01% in the last seven days, bringing its total price loss in the previous month to 10.80%.