Just before Ethereum embarked on its surge, driven by the listing of the Franklin Templeton ETH ETF on the DTCC ETF list, it experienced a notable price uptick. This surge was foreshadowed by three substantial ETH withdrawals from Binance, executed by three fresh whales. These withdrawals, totaling 11,557 ETH, marked a significant event as it was the first time such a sizable amount had been withdrawn from the exchange. At the time of withdrawal, the total value amounted to approximately $36M.
Ethereum Whales Gain $1.76M Profit After Binance Withdrawal
After the withdrawal, the value of Ethereum appreciated, and the new whales are now in possession of unrealized profits amounting to $1.76 million, or a gain of 5%. This information is sourced from Spot on Chain, a platform that tracks on-chain information and offers a concise and clear view of access and whale decisions.
The withdrawal of the over 11,000 ETH from Binance in this case could trigger an increased interest by investors and commentators on the movement of the crypto amounts by the whales.
Whales’ Timely Ethereum Withdrawals Precede Price Surge and Unrealized Profits
The timing of these withdrawals aligned with the inclusion of the Franklin Templeton ETH ETF into the DTCC ETF list, giving an idea that the whales in question could be expecting an Ethereum price surge. In this case, the ETF listing news could have acted as a buying trigger, leading to increased demand.
Consequently, due to the subsequent surge of Ethereum’s price following the news about the ETF, these whales are now holding considerable unrealized profits. The example with these whales and the profits they made, therefore, reaffirm the Ethereum’s dynamic nature of the cryptocurrency market and the ability for considerable profits for smart investors. Monitoring whale activity and trends can help investors make informed decisions on how to enter the cryptocurrency space.
