On July 10, the price of Ethereum surpassed 2,800 USD, with significant purchases from 7 whales and institutions, totaling nearly 128,000 ETH worth about 358 million USD.
Many new wallets and large entities are executing large-scale ETH transactions, from withdrawing assets at major exchanges like Kraken, Binance to buying through OTC channels and transferring to DeFi platforms like Aave, Compound.
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7 whales and institutions purchased over 127,000 ETH within 24 hours.
A new wallet withdrew over 54,000 ETH from Kraken, while Abraxas Capital withdrew nearly 41,000 ETH from Binance and Kraken.
Whales are moving ETH into DeFi, while the GMX hacker is converting all assets to ETH.
What is the new price of Ethereum and what notable transactions have occurred?
This is the highest level of 2024 as of July, reaching 2,795.32 USD/ETH according to Lookonchain data, with on-chain transaction reports showing that 7 whales and institutions purchased a total of 127,971 ETH, worth about 358 million USD.
The price of ETH surged significantly, attracting large capital inflows, reflecting the confidence and active participation of major investors in the current cryptocurrency market.
Which wallets made large ETH withdrawals on July 10?
The newly created wallet 0x35fb withdrew 54.125 ETH, equivalent to 151 million USD from Kraken in 16 hours, while Abraxas Capital withdrew 40.986 ETH worth 114 million USD from Binance and Kraken in 20 hours.
These are large transactions, indicating high-scale asset movement between wallets and exchanges, while also creating liquidity pressure on the market.
The phenomenon of large-scale ETH withdrawals from centralized exchanges indicates a shift in investment strategy towards personal asset management and greater decentralization.
Mr. Nguyen Hoang Nam, Market Analysis Director, announced in July 2024.
Are there any notable ETH buy/sell transactions in the last 24 hours?
SharpLink Gaming holds 205,634 ETH and has added 5,072 ETH worth 13.51 million USD through OTC transactions. Wallet 0x8C08 bought 9,188 ETH with 25 million USDT when the price of ETH was 2,721 USD. Wallet pfm.eth bought 2,900 ETH with 8 million USDT when the price of ETH was 2,759 USD.
Diverse transactions reflect the active participation of both large institutions, individual wallets, and OTC investors, indicating a trend of asset movement away from centralized exchanges.
What is noteworthy about GMX hacker and transactions related to ETH?
The GMX attacker swapped all assets worth 32 million USD (excluding FRAX) for 11,700 ETH. This event attracted attention due to its scale and market impact from the unusual actions of whales.
This conversion shows that the hacker is focusing on ETH as a form of significant store of value amidst a complex market environment.
Comparison table of ETH transactions from large wallets in the last 24 hours
Wallet/Organization Number of ETH Transacted Value (USD) Action Time Wallet 0x35fb (New) 54.125 ETH 151 million USD Withdrawn from Kraken 16 hours Abraxas Capital 40.986 ETH 114 million USD Withdrawn from Binance and Kraken 20 hours SharpLink Gaming 5.072 ETH 13.51 million USD Bought OTC – Wallet 0x8C08 9.188 ETH 25 million USD Purchased with USDT 13 hours ago Wallet pfm.eth 2.900 ETH 8 million USD Purchased with USDT 12 hours ago GMX Hacker 11.700 ETH 32 million USD Converted assets to ETH –
Frequently Asked Questions
1. Why are whales buying large amounts of ETH when the price exceeds 2,800 USD? They are taking advantage of the bullish market trend to accumulate assets with long-term growth potential, while also increasing liquidity for complex investment strategies. 2. What does withdrawing ETH from major exchanges mean for the market? Withdrawing ETH from exchanges indicates that investors want to securely control their personal assets, reducing liquidity risk and dependence on centralized exchanges. 3. How do OTC transactions affect the price of ETH? OTC transactions help buy and sell large amounts of coins to avoid sudden price fluctuations in the public market, maintaining price stability for ETH. 4. How does the hacker converting assets to ETH impact the market? If not dumped en masse, converting to ETH can provide liquidity support and maintain value, minimizing excess selling pressure. 5. What is the involvement of DeFi institutions? Transferring ETH to platforms like Aave and Compound indicates a trend of using DeFi to increase liquidity and profit from lending interest on cryptocurrency.
Source: https://tintucbitcoin.com/ethereum-ca-voi-va-to-chuc-mua-manh/
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