Ethereum Surges 6% As Digital Asset Investments Reach Record Highs

Ethereum made a notable rebound today, climbing 6% to surpass the $3,300 mark amid positive market sentiment.

This uptick follows significant inflows into digital asset investment products, which according to CoinShares, totaled $1.44 billion last week, pushing year-to-date inflows to a record $17.8 billion.

Bitcoin alone saw its fifth-largest weekly inflow ever, amounting to $1.35 billion, while Ethereum received $72 million in inflows.

According to CoinShares, digital asset investment products saw $1.44 billion in inflows last week, bringing year-to-date inflows to a record $17.8 billion. Bitcoin saw its fifth-largest weekly inflow on record, at $1.35 billion. Ethereum saw $72 million in inflows.…

— Wu Blockchain (@WuBlockchain) July 15, 2024

Today, a prominent whale identified as 0xe44 executed a substantial move in the market, withdrawing 2,300 ETH worth approximately $7.76 million from Binance. Following this withdrawal, the whale staked all of these ETH into Lido for stETH, a tokenized representation of staked Ethereum, and subsequently staked all stETH into @aoTheComputer.

Within 2 hours, a whale 0xe44 totally withdrew 2,300 $ETH (~$7.76M) from #Binance.

After that, he staked all of them into #Lido for $stETH and then staked all $stETH into @aoTheComputer.

Address:https://t.co/wHPmHUTgsM pic.twitter.com/doBrO3NJtb

— The Data Nerd (@OnchainDataNerd) July 15, 2024

Meanwhile, Justin Sun’s Ethereum holdings are on the verge of reaching 700,000 ETH. Since December 26, 2023, Sun has strategically accumulated approximately 421,800 ETH, valued at $1.267 billion, across five addresses during this bullish market phase. His average purchase price during this period was around $3,006 per ETH.

Including his existing holdings, Sun’s total Ethereum holdings across multiple addresses now stand at 698,700 ETH, valued at approximately $2.215 billion. The majority of these holdings, specifically 646,900 ETH, are actively earning income through major staking and re-staking platforms.

With 646,900 ETH actively staked, Sun stands to generate substantial daily interest income. Based on the current Ethereum Proof of Stake (PoS) staking annualized rate of 3.2%, the daily interest income from these holdings amounts to approximately $180,000 or 56.7 ETH.

孙哥 Justin Sun 持有的 ETH 数量即将到达 70 万枚。

2023/12/26 至今，孙哥在本轮牛市里通过 5 个地址买进了约 42.18 万枚的 ETH ($1.267B)，均价约 $3,006。

再加上此前持有的，目前孙哥通过多个地址 ETH 总持仓已达 69.87 万枚 ($2.215B)。
其中绝大部分 (64.69 万枚)… https://t.co/LYNZIcG9Uc pic.twitter.com/75SmCTryNj

— 余烬 (@EmberCN) July 14, 2024

These developments highlight not only Ethereum’s recovery in the market but also the strategic maneuvers and significant holdings of key players like Justin Sun, underscoring their impact on market dynamics and investor sentiment within the cryptocurrency ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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