{"id":166533,"date":"2023-10-02T13:23:40","date_gmt":"2023-10-02T07:53:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=166533"},"modified":"2023-10-02T13:23:40","modified_gmt":"2023-10-02T07:53:40","slug":"massive-ethereum-eth-accumulation-is-underway-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/massive-ethereum-eth-accumulation-is-underway-crypto-news\/","title":{"rendered":"Massive Ethereum (ETH) Accumulation Is Underway &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__lead-img--wrapper\" href=\"https:\/\/u.today\/alex-dovbnya\"><\/p>\n<p><\/a><\/p>\n<div class=\"article__lead-info\"><a rel=\"nofollow noopener\" target=\"_blank\" class=\"article__lead-name\" href=\"https:\/\/u.today\/alex-dovbnya\">Alex Dovbnya<\/a><\/p>\n<p>Notable blockchain analyzer Lookonchain has detected a significant surge in Ethereum (ETH) accumulation<\/p>\n<\/div>\n<\/div>\n<div>\n<p>Blockchain sleuth Lookonchain <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/lookonchain\/status\/1708521682904993920\">has recorded<\/a> notable increases in Ethereum (ETH) accumulation. Notably, they were coupled with a significant price uptick and recent exchange-traded fund (ETF) filings.<\/p>\n<h2>Accumulation comes with a price uptick\u00a0<\/h2>\n<p>According to Lookonchain data, a particular entity, labeled as &#8220;whale&#8221;0x7838,&#8221; recently withdrew 4,288 ETH, equivalent to $7.2 million, from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/binance-v-sec-multiple-bitcoin-pairs-face-service-cuts-amid-court-clash\">Binance<\/a> and staked it.\u00a0<\/p>\n<p>Another fresh wallet, &#8220;0x4b7B,&#8221; withdrew 9,530 ETH ($16 million) from the same platform and staked it, thus contributing to Ethereum\u2019s momentum in the market.<\/p>\n<p>Meanwhile, the second-biggest cryptocurrency, has experienced a 2.3% increase in its value, elevating its price to $1,718. According to CoinGecko <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">data<\/a>, the Bitcoin competitor is currently valued at a whopping $206 billion.\u00a0<\/p>\n<h2>The ETF frenzy<\/h2>\n<p>Adding fuel to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/ethereum-etf-heres-why-next-week-might-be-crucial\">Ethereum\u2019s momentum<\/a> is the recent decision by the U.S. Securities and Exchange Commission (SEC) to greenlight Ethereum futures for inclusion in exchange-traded funds (ETFs).\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.today\/bitcoin-futures-etf-date-revision-announced-by-valkyrie-funds\">Valkyrie Funds<\/a> seized this opportunity, integrating Ethereum futures into its existing Bitcoin futures ETF. This development marks the first instance where Ethereum-based futures are accessible to investors through an ETF, potentially paving the way for enhanced market stability and investor confidence.<\/p>\n<p>Several other asset managers, including VanEck and ProShares, are also in the running to launch Ethereum futures ETFs.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alex Dovbnya Notable blockchain analyzer Lookonchain has detected a significant surge in Ethereum (ETH) accumulation Blockchain sleuth Lookonchain has recorded notable increases in Ethereum (ETH) accumulation. Notably, they were coupled with a significant price uptick and recent exchange-traded fund (ETF) filings. Accumulation comes with a price uptick\u00a0 According to Lookonchain data, a particular entity, labeled [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":166534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-166533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=166533"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166533\/revisions"}],"predecessor-version":[{"id":166536,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166533\/revisions\/166536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/166534"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=166533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=166533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=166533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}