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Ethereum | Sharks stockpile over $6 Billion in Eth

Updated

Data from cryptocurrency analytics platform Santiment has revealed that so called ‘Shark’ addresses on the Ethereum blockchain have over the past year stockpiled over $6.2 billion worth of the second-largest digital currency by market capitalization.these addresses are defined as those holding between 10 and 10,000 ETH, or between $17,500 or $17.5 million worth of the cryptocurrency, and their supply has grown by 554,000 ETH in the past week, according to the platform’s data.

Meanwhile, however, while ETH sharks have been accumulating heavily, whales on the network have “collectively dumped 9.4 million in the same timeframe.” These whales are defined as addresses holding between 10,000 and 10 million ETH, meaning from $17.5 million to $17.5 billion worth of the cryptocurrency. crypto forums are paying close attention to the various banking crises occurring globally. The company notes that “laws and policies going forward may have a dramatic impact on the trajectory of cryptocurrency”.

Notably, Ethereum is set to undergo its highly-anticipated Shanghai-Capella upgrade, often referred to as Shapella, upgrade on April 12. The upgrade includes one key feature, with Ethereum Improvement Proposal, EIP 4895 will allow for withdrawals of staked Ether on the network, a functionality that wasn’t implemented when the network merged with the Beacon Chain and transitioned to a Proof-of-Stake consensus.the upgrade will also feature three other improvements aimed at optimizing gas costs for certain activities. The upgrade is set to take place on April 12 at epoch number 620,9536. Shapella is coming after multiple phases of public testing on three testnets, including Sepolia, Zhejiang, and Goerli. The upgrade was earlier this week deployed on the Goerli testnet as a final rehearsal ahead of the mainnet launch.

The price of Ethereum is $1,820 today with a 24hour trading volume of 14 billion dollar. This represents a 5% price increase in the last 24 hours and a 27% price increase in the past 7 days

next targets are 1830, 1840 and 1850$

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we hit the first target

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we hit the second target too ✅

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v hit all targets ✅

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new traders: patterns are hard, no one know whats gonna happen
patterns:

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Ethereum Developer Conference: Testing of Shapella upgrade is entering its final stages, with a last mainnet shadow fork scheduled next week and cross-client EVM fuzzing of the latest releases

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next targets are 1880, 1885 and 1890

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we hit all targets again✅

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Ethereum supply has decreased by more than 80,000 ETH since the Merge update, and the annual deflation rate is 0.11%

In addition, Ethereum's pledge amount is about 18.03 million and APY's annual pledge yield is 3.77% There are still 2 days and 12 hours left before the Merge update.

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An ETH liquid staking vault is now available ahead of the Shanghai upgrade.

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ETH Futures Contracts Open Interest just reached a 7month high of 30,364,511 on Kraken

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SEC Chairman Gary Gensler repeatedly refused to explicitly answer House Financial Services Committee Chairman Patrick McHenry's question on "Is ETH a commodity or a security" at the hearing. Gary Gensler said it depends on the legal facts and does not want to prejudge

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The Ethereum Foundation announces the launch of the first Devconnect Istanbul Scholars Program, which will provide talented and values-aligned individuals from communities currently geographically and demographically underrepresented in Ethereum with financial support to attend Devconnect in Istanbul this November. The application deadline is 2023 July 23 day

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BlackRock CEO Larry Fink says they "see value in having an Ethereum ETF."

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K33 Research expects that the estimated inflows of $3 billion to $4.8 billion in the first five months for the upcoming spot ETH ETF in the United States will be equivalent to 800k to 1.26 million ETH accumulated in the ETF, which is about 0.7%-1.05% of the total token supply and should lead to an increase in ETH prices.

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Nate Geraci, president of The ETF Store, said he would be shocked if the spot Ethereum ETF was not listed and traded in the next two weeks. The spot Ethereum ETF may be launched later next week, but it is more likely to be the week of July 15. ETH prices have fallen by more than 20% since the unexpected approval of the 19b-4 form in late May

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The U.S. SEC has approved Grayscale's mini Ethereum ETF, which will be seeded with assets currently backing the larger ETF. ProShares' Ethereum ETF was also approved. The fund is likely to start trading next week along with other spot ETH ETF products. Grayscale also has a mini Bitcoin ETF with lower fees than its flagship Bitcoin product

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Grayscale's saw a 326.2M outflow on the second day

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Metalpha, a Hong Kong asset management company affiliated with Bitmain, has deposited another 10,000 Ethereum worth about $23.45 million to Binance today. In the past 4d, Metalpha has deposited a total of 33,589 Ethereum worth about $77.55 million to Binance. Currently, Metalpha still holds 51,300 Ethereum worth about $120 million.

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BlackRock Ethereum ETFs Surpassed $1 Billion Total Asset Value in 2 Months

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the Ethereum Foundation address sold 100 ETH today through CoWSwap in exchange for 262,474 DAI. As of 2024, the EF has sold 3,766 ETH in exchange for approximately 10.46 million DAI, with an average selling price of $2,777 per ETH. In September alone, the Foundation has sold 1,250 ETH, worth approximately $3.06 million

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Vitalik exchanged some Memecoins into his wallet for about 140.6 ETH in 30 minutes, worth about 340k, including: 100,000 USDT (donated by CATE project); 70.71 million Neiro; 11.76 billion MOODENG; 7.8 million DEGEN; 16.03 billion KABOSU

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Vitalik.eth sold 10 billion MOODENGs for 308.7 ETH through Cow Swap at 19:18-19:36 UTC+8 today, and transferred 260.15 ETH to the charity Kanro contract. Currently, vitalik.eth still passively holds 40 billion MOODENGs, worth about 4.32 million US dollars. Vitalik: I appreciate all the memecoins that donate portions of their supply directly to charity. Anything that gets sent to me gets donated to charity too. MOODENGs is going to anti-airborne-disease tech

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Economist Tyler Cowen said that Ethereum founder Vitalik Buterin is a strong contender for the Nobel Prize in Economics. They likened Ethereum's transition from POW to POS to changing tires while a car is driving. Alex Tabarrok believes that Satoshi Nakamoto should also win the prize, but he is dead. Reasons include: None of the economists have made any contribution to cryptocurrency. Vitalik created a currency that refuted Mises' regression theorem (currency was originally trusted through its intrinsic value as a physical commodity like gold). Ethereum switched from POW to POS without stopping. He is very polite. He donated a lot of money to charity. He has deep thoughts on world economic problems and mechanisms. Satoshi Nakamoto should have gotten it too, but he is dead

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seized in the PlusToken scam has been transferred to exchanges. Over the last 24 hours, about 7K ETH of the remaining 542K ETH (1.3B) has been sent to exchanges, indicating the intention to start selling the remaining tokens

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Australia's first Ether ETF, Monochrome Ethereum ETF (IETH), has launched on Cboe Australia

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- ETH caught up to BTC over the weekend, rising by 2% during low liquidity hours on Sunday. Although ETH outpaced BTC last week with an 11% gain compared to BTC’s 9.6%, it still trails BTC this month, with a 4% gain versus BTC's 8%.

- Neither BTC nor ETH has surpassed their July highs yet, but they are nearing key resistance levels at 70k and 2800, respectively. A breakthrough at these points is expected to draw significant retail interest. With the U.S. elections just 15 days away and equities performing well, market sentiment is positive, as risk reversals have shifted in favor of calls across all durations.

- However, with no major catalysts expected this week, we anticipate crypto to fluctuate around these levels as it attempts to move higher. The main macro event is Thursday’s (October 24) PMI data, which the market will look to for reassurance on whether the Fed will stay on track with its rate cut plans.

moonypto

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