Ethereum

Based

Wrapped Bitcoin

Foundation

Spot

<p>Based on data from Spot on Chain, several prominent crypto whales have embarked on a massive Ethereum (ETH) buying spree, propelling the price of the second-largest cryptocurrency to soar by 6% over the past 24 hours. The surge in demand has been fueled by a series of strategic moves from these deep-pocketed investors, underscoring the growing institutional interest in the Ethereum ecosystem.</p>
<h3 class="wp-block-heading" id="amaranth-foundation-founder-s-splurge">Amaranth Foundation Founder’s Splurge</h3>
<p>At the forefront of this buying frenzy is <a href="https://platform.spotonchain.com/en/signal-details/james-fickel-bought-more-eth-despite-price-surge-100117" target="_blank" rel="noopener noreferrer nofollow">James Fickel</a>, the founder of the Amaranth Foundation. Over the past 44 hours, Fickel has acquired 11,758 ETH, valued at approximately $37.52 million, using USDC stablecoins. This massive purchase was executed at an average price of $3,191 per ETH, with the tokens subsequently supplied to the decentralized lending platform Aave.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="627" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-1024x627.png" alt="" class="wp-image-483340" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-1024x627.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-300x184.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-767x469.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-1536x940.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-2048x1253.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-245x150.png 245w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-572x350.png 572w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289-788x482.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1289.png 1788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Fickel’s foray into Ethereum doesn’t stop there. In a strategic move to expand his long positions on the ETH/BTC trading pair, he has borrowed an additional 40 BTC (worth $2.51 million) from Aave over the past 24 hours, subsequently selling them for 806 ETH.</p>
<p>Since the start of 2024, the Amaranth Foundation founder has borrowed a total of 2,301 Wrapped Bitcoin (WBTC) worth around $145 million from Aave, converting them into 41,944 ETH. The cost basis of his ETH/BTC trading pair stands at an impressive 0.055, highlighting his conviction in Ethereum’s potential.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h3 class="wp-block-heading" id="binance-withdrawals-and-market-impact">Binance Withdrawals and Market Impact</h3>
<p>The buying frenzy extends beyond Fickel’s activities. Another prominent whale, has withdrawn a substantial 14,146 ETH (worth approximately $45.3 million) from the Binance exchange over the past 17 hours. This withdrawal was executed in two transactions at an average price of $3,204 per ETH, resulting in an unrealized profit of $1.39 million (3.06%) following the recent price surge.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="614" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-1024x614.png" alt="" class="wp-image-483348" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-1024x614.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-300x180.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-767x460.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-1536x922.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-2048x1229.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-250x150.png 250w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-583x350.png 583w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290-788x472.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-1290.png 1800w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Notably, the first transaction from this whale preceded the 6% spike in ETH’s price, which was reportedly triggered by the addition of Franklin Templeton’s ETH ETF to the Depository Trust &amp; Clearing Corporation (DTCC) ETF list. This strategic timing suggests that the whale may have anticipated the bullish market reaction.</p>
<p>In addition to the Ethereum withdrawals, the same whale also withdrew 95.67 million USDT from Binance. Based on their similar behavior, this whale (0x205) may be linked to the “Giant ETH Whale” (0x435), which has withdrawn a colossal 176,117 ETH (currently worth $551 million) from Binance since March 31, 2024.</p>
<h3 class="wp-block-heading" id="institutional-interest-and-market-outlook">Institutional Interest and Market Outlook</h3>
<p>The concerted efforts of these whales have undoubtedly contributed to the recent surge in Ethereum’s price, which has risen by 6% over the past 24 hours. This bullish momentum is further bolstered by the addition of Franklin Templeton’s ETH ETF to the DTCC ETF list, signaling growing institutional interest in the Ethereum ecosystem.</p>
<p>The continued participation of prominent institutional players and whales is expected to drive increased liquidity and stability, paving the way for broader adoption and mainstream recognition of blockchain technology and digital assets.</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/crypto-whales-go-on-massive-ethereum-buying-spree-eth-price-pumps/" rel="noopener noreferrer nofollow">Crypto Whales Go on Massive Ethereum Buying Spree, ETH Price Pumps</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Whales Go on Massive Ethereum Buying Spree, ETH Price Pumps

Table of Contents

CaptainAltcoin

Other articles published on Apr 28, 2024

Golem Price Prediction: GLM Plunges 10% As Traders Rush To Buy This Solana Meme With Less Than A ...

Cryptocurrency Market Fluctuates with Legal Battles and New Partnerships

U.S. and China’s standoff over debt reaches scary level

Bitcoin Daily Transactions Hit Record High with Runes Token Standard Launch

Exploring Changes in Bitcoin Ecosystem Post-Halving

Crypto Whales: Who are they and how do they move the market?

Join our free newsletter for daily crypto updates!