Metalpha, a major crypto wealth management firm based in Hong Kong, recently transferred $77.55 million in Ethereum (ETH) to Binance, as reported by Lookonchain.
Over several transactions, Metalpha moved a total of 33,589 ETH to the exchange, including a notable transfer of 10,000 ETH valued at $23.45 million on Monday.
Currently, Metalpha retains 51,300 ETH, worth approximately $120 million.
Lookonchain also highlighted increased activity among Ethereum whales. One whale recently purchased 5,000 ETH for $11.46 million at recent lows.
This whale had previously bought 5,200 ETH at an average price of $1,322 in November 2022 and sold it at an average price of $2,093 between December 2023 and January 2024, realizing a profit of over $4 million.
At present, Ethereum is trading at $2,378, marking a 1.5% increase in the last 24 hours.
With the U.S. Securities and Exchange Commission (SEC) already greenlighting spot Bitcoin and Ethereum ETFs, attention is now turning to the next wave of crypto-backed exchange-traded funds.
As crypto markets navigate another week of volatility and shifting sentiment, traders are increasingly turning their attention to emerging altcoins and high-momentum tokens.
A new milestone in cryptocurrency investment products is set to unfold this Wednesday, as REX Shares prepares to launch the first-ever U.S.-listed staked crypto exchange-traded fund (ETF), according to a company announcement shared on X.
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]