Ballenas accumulate 1.5 million Ethereum in 30 days
During the last 30 days, whales have accumulated 1.5 million ETHER (ETH), the Native Ethereum currency, equivalent to 3,780 million dollars at today’s price, June 15.
The data show that whales (investors that have more than 1,000 eth) They increased their holdings by 3.72% and now control 26.98% of Ether’s total supply.
Santiment analysts, a data analysis firm ON-CHAINThey emphasize that the behavior of whales suggests that institutional investors adopted a long -term accumulation strategy of Ethereum’s native cryptocurrency.
Meanwhile, firm’s analysts indicated that small investors have been detaching from your ETH to get profits.
In the midst of these movements, ETH’s price at the time of publication of this note is $ 2,520.
As Cryptonoticia has reported, there is an “institutional fever” by ETH in the market. Within that framework, companies such as BTCS Inc. and Sharplink have been issuing debt to finance purchases of the asset without depending on their operational income.
It is a strategy similar to that used by Strategy, the firm led by Michael Saylor, although in this case the acquisitions are not Bitcoin (BTC).
It must also be noted that this institutional enthusiasm is also reflected in the funds quoted in the stock market (ETF) in the ETH’s cash. These financial instruments marked a record of 19 consecutive days with net capital tickets.
The green streak was cut on Friday, June 13, when they registered money drops for 2.18 million dollars. Since its launch to the market, ETFs of ETH accumulate tickets for 3,850 million dollars.
The good performance of these financial instruments has a direct impact on ETH. It is that, due to their operation, managing companies must keep the underlying asset in their treasury to support their actions.
By simple supply and demand law, if there is demand for these ETFs, firms must go to the market to buy more ETH. That will generate bullish pressure in its price.
