Whale Accumulates $123M in ETH, Sparking Retail Investor FOMO
Ethereum (ETH) is experiencing increased retail investor interest due to significant whale accumulation. Key points include:
- A wallet activated on July 25 has purchased over $133.3 million in various altcoins, with ETH being the largest share at $123.5 million.
- The owner used USDT and USDC to accumulate ETH from major exchanges like Binance, Bybit, and Kraken.
- On-chain analysis suggests this address is likely linked to DeFiance Capital.
- In the past 28 hours, approximately 30,366 ETH (valued at $114 million) were bought by this whale.
- US-based spot Ethereum exchange-traded funds have seen strong inflows, with BlackRock’s ETHA fund attracting around $9.35 billion since launch.
- Galaxy Digital CEO Michael Novogratz expects ETH to outperform Bitcoin (BTC).
The current trading price for ETH is $3,770, with a market cap of $455.9 billion.