ETH Whale Redeems 95,313 ETH Amid Strong ETF Inflows

Ethereum (ETH) faces persistent selling pressure despite strong spot ETF inflows. Key points include:

  • Recent whale activity saw a prominent holder redeem 95,313 ETH, with over 68,000 ETH transferred to centralized exchanges, potentially increasing sell pressure.
  • This whale originally staked ETH at $2,878 but redeemed it around $2,431, leading to an unrealized loss of approximately $42.6 million.
  • Spot Ethereum ETFs recorded net inflows exceeding $4.2 billion, with significant contributions from BlackRock and Fidelity.
  • In the last week, spot Ethereum ETFs reported net inflows of 106,000 ETH, marking seven consecutive weeks of positive momentum.
  • An inactive ICO-era wallet has resurfaced, holding over 1,000 ETH valued at approximately $2.44 million, reflecting a return of 7,870x on its original investment.
  • Corporate interest remains strong, with SharpLink Gaming recently acquiring an additional 4,951 ETH worth about $12.4 million through OTC purchases.
  • Analyst Tom Lee suggests that corporate accumulation could drive ETH prices towards $3,000.