In the dimly lit corridors of the crypto market, Ethereum finds itself at a rather precarious juncture. With a price hovering around $2,630, it seems to be playing a game of hide and seek with its own stability. The volatility, a mere 3.0%, whispers tales of uncertainty, while the market cap, a staggering $316.95 billion, looms like a watchful guardian.
As institutions continue to gather ETH like children collecting marbles, one wonders: will this insatiable appetite lead to a bull run, or are we merely witnessing a grand farce? 🤔
BlackRock’s Relentless Pursuit of Ethereum
On the 11th of February, a day that will be remembered in the annals of financial history, the US Ethereum spot ETFs reported a net inflow of $12.5 million. While most ETFs sat idly by, BlackRock, the ever-enthusiastic patron of Ethereum, continued its buying spree.
With this latest acquisition, BlackRock’s net assets have swelled to $3.53 billion, a testament to its unwavering faith in the altcoin that refuses to die. Since its inception, the Ethereum ETF has seen a cumulative net inflow of $4.44 billion. One might say, “What a love story!” 💖
Whales: The Unsung Heroes of ETH Demand
Meanwhile, in a plot twist worthy of a soap opera, Donald Trump’s World Liberty Financial has decided to join the Ethereum party. With a staggering 5 million USDC, they purchased 1,917 ETH tokens, proving that even in the world of finance, the unexpected can happen.
World Liberty Financial (@worldlibertyfi) continues accumulating $ETH and $MOVE!
4 hours ago, the fund spent 5M $USDC to buy 1,917 $ETH and 470K $USDC to acquire 830,469 $MOVE.
Over the past 2 days, it has spent $940K USDC in total to buy 1.634M $MOVE at an average price of…
— Spot On Chain (@spotonchain) February 12, 2025
In addition to Ethereum, they also splurged 470,000 USDC on MOVE tokens. It seems that the fund has a taste for the finer things in life, having spent a total of 940,000 USDC on MOVE tokens alone. Who knew finance could be so glamorous? 💸
As if that weren’t enough, crypto whales have been busy too! In a recent revelation, analyst Ali Martinez noted that these aquatic giants have accumulated a whopping 600,000 ETH in just a week. Talk about a feeding frenzy! 🐳
Whales have bought over 600,000 #Ethereum $ETH in the past week!
— Ali (@ali_charts) February 12, 2025
Between February 2 and February 9, the balance of whales holding between 10,000 to 100,000 ETH tokens surged from 16.31 million to 16.98 million. A 4.1% increase, one might say, is quite the catch!
Moreover, exchanges have seen a mass exodus of Ethereum, with over a million ETH tokens leaving their confines. It appears that holders are hoarding their treasures, perhaps anticipating a grand adventure ahead. 🏴☠️
More than 1 million #Ethereum $ETH have been withdrawn from exchanges in the past week, signaling increased accumulation and reduced sell pressure, as shown by data from @santimentfeed!
— Ali (@ali_charts) February 11, 2025
Thus, the stage is set for a potential Ethereum bull run, or at least a dramatic act in this ongoing play.
Technical Outlook: The Bullish Pattern Emerges
From a technical perspective
Read More
- Who Is Returning on Days of Our Lives This Week?
- STETH/CAD
- What is the next Prime Warframe?
- Apple reveals more affordable iPhone 16e starting at $599
- PlayStation State of Play announced for February 12, 2025
- Where Was Sweet Magnolias Season 4 Filmed? All Locations Revealed
- Bromance Twitter Review: Is Arjun Ashokan, Mathew Thomas starrer comedy worth a watch? Read 11 tweets to find out
- How To Get, Equip And Use Sprays In COD Mobile
- Metal Gear Solid Delta’s Ape Escape content won’t be playable on all platforms
- Dhanush’s third directorial venture NEEK release date postponed due to Ajith Kumar’s Vidaamuyarchi
2025-02-12 11:39