Ethereum whales and large organizations have been increasing their accumulation of ETH through institutional platforms in recent days.
In 3 days, ETH accumulated through wallets created by BitGo reached over 128,000 ETH, equivalent to more than 464 million USD, reflecting strong interest from institutional investors.
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Whales and organizations continue to accumulate ETH through platforms like FalconX, Galaxy Digital, and BitGo.
In the past 20 hours, an additional 27,073 ETH has been sent to wallets controlled by organizations.
The total ETH accumulated in the past 3 days reached 128,204 ETH, equivalent to 464.5 million USD.
Why have Ethereum whales and organizations intensified their accumulation of ETH recently?
On-chain data shows that institutional wallets via BitGo received an additional 27,073 ETH in just the past 20 hours, demonstrating strong inflow into Ethereum from major investors.
The continuous accumulation of ETH over 3 days, totaling 128,204 ETH (464.5 million USD) through platforms like FalconX and Galaxy Digital, demonstrates strong confidence in the potential for price appreciation or large-scale applications utilizing ETH in the DeFi ecosystem.
This action also indicates a positive trend from organizations, as they utilize BitGo's secure wallets to ensure the safety of large assets while consolidating their long-term ETH holding positions.
How is the accumulation of ETH carried out through organizational platforms?
The wallets created by BitGo serve as intermediaries for organizations to acquire ETH from platforms like FalconX and Galaxy Digital. In the past 20 hours, an additional 27,073 ETH has been transferred into these wallets.
FalconX and Galaxy Digital are two platforms that provide trading and custody services for institutional clients, allowing them to safely and conveniently buy, sell, and store ETH. The transfer of ETH through these platforms reflects a trend towards more institutional investment compared to individual trading in the free market.
In particular, the continuous accumulation over 3 days demonstrates a strategy of accumulation buying, creating momentum for long-term capital growth rather than short-term investment.
On-chain data shows that 'whales and organizations are consolidating their positions in holding ETH through BitGo's secure wallets and reputable organizational platforms,' according to analysis by Yu Jin, on-chain expert, August 2024.
Yu Jin – On-chain analyst, report dated 07/08/2024
What effect does this accumulation of ETH have on the cryptocurrency market?
The actions of major investors and organizations continuously accumulating ETH contribute to the scarcity of circulating supply, which may create upward price pressure in the medium and long term.
The accumulated volume of 128,204 ETH, equivalent to 464.5 million USD, is a significant figure that reflects the growing interest from institutional investors in this cryptocurrency, especially in the context of DeFi development and the expanding application of Smart Contracts.
The deep participation of organizations brings stable capital, helping the cryptocurrency market become increasingly transparent and more capable of sustainable development.
What institutional platforms are used to accumulate ETH and what are their roles?
Key platforms including FalconX, Galaxy Digital, and BitGo all play important roles in providing safe custody and trading services for institutional investors.
BitGo is well-known as a provider of cold custody wallet services, protecting ETH from depreciation risks or hacker attacks. FalconX and Galaxy Digital support professional trading, helping to optimize costs and investment efficiency for organizations.
The simultaneous use of multiple platforms allows for diversification in the methods and strategies of storing ETH, while increasing security and flexibility for Ethereum whales and large organizations.
What are the security mechanisms and advantages of accumulating ETH through BitGo wallets?
BitGo provides cold wallets and multi-signature wallet solutions, helping to protect cryptocurrency assets from cyber attack risks and loss of Private Keys.
Many organizations trust BitGo for its flexible access control capabilities, while meeting high compliance standards and advanced risk management in the financial industry.
As a result, whales and organizations feel more secure in storing large amounts of ETH, contributing to increased stability in the cryptocurrency market by limiting sudden spikes in circulating ETH.
Frequently Asked Questions
Who are Ethereum whales and why are they important?
Ethereum whales are investors who own large amounts of ETH, impacting market volatility due to their ability to create significant cash flow and community sentiment.
What are the advantages of accumulating ETH through institutional platforms?
High security assurance with cold wallets, convenient for professional trading, suitable for the large asset scale of organizations.
How much ETH has been accumulated in the past 3 days?
More than 128,204 ETH, equivalent to about 464.5 million USD, have been added through institutional wallets.
Why do whales and organizations use BitGo?
BitGo offers multi-signature wallet solutions, with high security that meets professional financial safety standards.
What impact does this accumulation of ETH have on the market?
The increasing pressure of demand and decreasing circulating supply may contribute to a long-term rise in ETH prices.
Source: https://tintucbitcoin.com/ca-voi-ethereum-gom-27-073-eth/
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