🔥 Ethereum ETF Speculation Pushes ETH Toward $3,200 Amid Whale Accumulation🔥
$ETH
Ethereum (ETH) is back in the spotlight as rumors swirl about a potential Ethereum Spot ETF approval in the U.S. by the end of August. According to on-chain analytics firm Glassnode, whales have accumulated over 150,000 ETH (worth approximately $480 million) in the last seven days, signaling strong institutional interest
The speculation follows the SEC’s recent greenlight for multiple Bitcoin ETFs earlier this year, which triggered a massive rally in BTC. Market analysts predict that an ETH ETF approval could open the floodgates for mainstream adoption and push Ethereum’s price above $3,500 in the short term.
DeFi platforms are also experiencing a surge in activity, with Ethereum’s total value locked (TVL) climbing past $65 billion for the first time since late 2021.
“An ETH ETF is no longer a question of if, but when,” says market strategist Daniel Harper. “Whales are simply getting ahead of the crowd.”
With investor sentiment heating up and whale wallets bulging, traders are keeping a close eye on the SEC’s upcoming announcements.