The Dev Company and Whales Continue to Accumulate Ethereum!
SharpLink Gaming has purchased approximately half a billion dollars worth of Ethereum (ETH) since the beginning of July, while large-scale ETH outflows have occurred from the Kraken exchange to newly opened wallets.
In recent weeks, the purchases of Ethereum (ETH) by institutional investors have gained momentum, with SharpLink Gaming making a particularly noteworthy move. According to data shared by the blockchain analysis company Lookonchain, SharpLink Gaming recently purchased an additional 4,904 ETH worth $17.45 million just 5 hours ago. Thus, the company has accumulated a total of 157,140 ETH worth $493 million at an average price of $3,136 since July 1.
As the intense interest of institutional giants in Ethereum continues, interesting ETH outflows have been observed from the popular cryptocurrency exchange Kraken. According to information reported by Lookonchain, two new wallets created only 6 hours ago withdrew a total of 22,434 ETH worth $79.5 million from Kraken. This situation indicates that the activity among major investors around Ethereum continues to increase.
The increase in ETH purchases by large firms like SharpLink and the massive withdrawals from exchanges are raising expectations for Ethereum's price. With the recent developments, Ethereum is seen as a safe haven among investors, and it is believed that institutional demand could push the price even higher. The movements that will occur in the coming days will be critically important for the direction of the market.
