$ETH According to data from Anchin, major Ethereum (ETH) traders not only continued to sell during last week's price correction, but also kept buying in large quantities. According to Arkham Intelligence, one of these traders purchased approximately $300 million worth of Ethereum through over-the-counter (OTC) trading from Galaxy Digital.

This address now holds 79,461 Ethereum, equivalent to about $282.5 million in assets. At the same time, BlackRock's exchange-traded fund (ETF) has seen investment inflows of $1.7 billion over the past ten trading days.

An analysis of data conducted by Dune Analytics shows that the amount of Ethereum held in exchange-traded funds has increased by more than 40% over the past month. According to Glassnode, the number of addresses owned by "giant whales" holding more than 10,000 Ethereum has increased by over 200 addresses since the beginning of July.

Despite the drop in the price of Ethereum after falling below $3,400 over the weekend, the price recovered to reach $3,560 on Monday. Some analysts believe that the prospect of interest rate cuts in the coming months may boost demand for digital assets.#USFedBTCReserve #BitcoinSPACDeal