Ethereum

when

Arkham

Golem

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-wallet-sends-4000-eth-to-exchanges" data-wpel-link="internal">Ethereum Wallet Sends 4000 ETH to Exchanges</a><br></p>
<p style="text-align: justify">A notable Ethereum wallet from the ICO era has transferred over 4000 ETH to major crypto exchanges <a href="https://en.bitcoinhaber.net/binance-introduces-liquidity-matching-program" data-wpel-link="internal">Binance</a> and Coinbase, marking its reactivation. This movement has followed a similar event last week when the same wallet moved over 8,000 ETH, sparking interest as other large Ethereum holders started shifting their holdings as well.</p> 
<h2 id="historic-wallet-activates-in-ethereum">Historic Wallet Activates in Ethereum</h2> 
<p style="text-align: justify">Originating from the early days of the Ethereum ICO, the wallet in question amassed an impressive 820,000 ETH by 2016. Last month, this address transferred about $100 million worth of ETH to exchanges, exerting downward pressure on Ethereum’s price. Current <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data</a> from Arkham Intelligence reveals that the wallet, identified by the extension 0x7d…6CF9, still retains around 22,834 ETH, equating to roughly $60 million at today’s prices.</p> 
<p style="text-align: justify">This transfer occurred amidst a broader trend of Ethereum whales aiming to capitalize on <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a>. Notably, the same wallet transferred approximately 40,000 ETH last month, responding to waning institutional interest in altcoins following ETF developments.</p> 
<h2 id="current-status-of-ethereum-etfs">Current Status of Ethereum ETFs</h2> 
<p style="text-align: justify">The broader context reveals a significant shift among ETH whales and Golem addresses, with a notable withdrawal from spot Ethereum ETFs signifying declining institutional interest. On August 21, spot ETFs saw their fifth consecutive day of outflows, with $18 million leaving the market. The Grayscale Ethereum ETF (ETHE) alone witnessed a significant outflow of $31 million in one day.</p> 
<p style="text-align: justify">Since its inception, ETHE has encountered outflows exceeding $2.5 billion, causing concern among investors. Interestingly, much of this capital appears to be redirecting toward BlackRock’s ETHA, which recently surpassed the $1 billion mark.</p> 
<h2 id="user-usable-inferences">User-Usable Inferences</h2> 
<p style="text-align: justify">Concrete insights derived from these developments include:</p> 
<ul> 
 <li>Significant movements from historic Ethereum wallets can create substantial price volatility.</li> 
 <li>Institutional interest in Ethereum, reflected by ETF outflows, appears to be diminishing.</li> 
 <li>Investors are reallocating funds from Grayscale’s ETF (ETHE) to BlackRock’s ETHA.</li> 
</ul> 
<p style="text-align: justify">The price of Ethereum is currently trading around $2,630, reflecting a 1% increase over the past day. This situation continues to evolve, with keen interest from market participants monitoring these significant wallet activities and ETF performance.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-wallet-sends-4000-eth-to-exchanges" data-wpel-link="internal">Ethereum Wallet Sends 4000 ETH to Exchanges</a></h5>

Ethereum Wallet Sends 4000 ETH to Exchanges

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