$603.3 Million in Ethereum in Single Hour as Price Spikes — What’s Happening?

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As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the recent string of large Ethereum transfers has piqued my interest. The six consecutive transactions, totaling approximately 168,000 ETH, are a clear indication that whales are actively moving the market.

The timing of these transfers, coinciding with a surge in the price of Ethereum, is intriguing. It’s like they’re playing a game of musical chairs with our digital assets. I can’t help but wonder if this could be a sign of an impending bull run or a whale trying to manipulate the market.

The influx of funds into BlackRock’s Ethereum ETF is also noteworthy. With a net inflow of $58.78 million in a single day, it seems institutional interest in Ethereum is growing. However, the massive outflow from BlackRock’s Bitcoin ETF is concerning. If Robert Kiyosaki’s suspicions are correct, this could be a strategic move to keep the price of BTC below $100,000.

All in all, it’s another rollercoaster day in the world of crypto. I can’t help but laugh at the irony – while whales are playing with millions, we retail investors are left holding the bag, hoping for the next big pump! As always, remember to DYOR (Do Your Own Research) and HODL tight!

As a crypto investor, I’ve just noticed some intriguing activity on the Ethereum blockchain. The renowned blockchain tracking platform, Whale Alert, has flagged six consecutive transactions, each transferring slightly over $100 million in Ether from one wallet to another. These details are being shared on their official account. This could potentially signal a significant movement or activity by a large-scale investor, but it’s important to remember that such transfers don’t necessarily indicate market trends or predictions.

All these transactions took place within a single hour, according to the on-chain data source.

168,000 ETH moved mysteriously to unknown wallets

Just now, Whale Alert identified six large cryptocurrency transfers, with each transfer consisting of around 27,970 Ethereum. The value of these transactions ranges from about $100.5 million to $100.7 million in traditional currency.

The entire sum was moved among various unidentified Ethereum blockchain wallets, amounting to approximately 168,000 ETH, which is equivalent to around $603 million USD at the current time.

🚨 🚨 🚨 🚨 🚨 27,980 #ETH (100,679,275 USD) transferred from unknown wallet to unknown new wallet

— Whale Alert (@whale_alert) January 4, 2025

The unidentified whale’s transaction occurred when the value of Ethereum, the second largest cryptocurrency by market cap, experienced a nearly 6% increase, climbing from $3,430 to reach $3,628. Currently, ETH has experienced a slight dip of around 1.5%, and at the moment, it is being traded for approximately $3,575.

BlackRock Ethereum ETF hits big new milestone

During this period, Chinese cryptocurrency journalist and blogger Colin Wu shared that on January 3rd, there was a significant overall inflow into post-Ethereum exchange-traded funds (ETFs), amounting to approximately $58.78 million. The majority of this influx, around $33.88 million, was attributed to BlackRock’s ETHA in just one day.

On January 3rd, there was a total net purchase (influx) of $58.7878 million for Ethereum spot ETF. In just one day, BlackRock ETF ETHA experienced a net inflow of $33.8836 million. At present, the cumulative net inflow for ETHA has surpassed $3.559 billion.

— Wu Blockchain (@WuBlockchain) January 4, 2025

As of now, the total inflows of BlackRock’s Ethereum ETF has reached the $3,559 billion mark.

Today saw a significant exit of funds from BlackRock’s Bitcoin spot ETF IBIT, totaling around 3,413 Bitcoins or $332.6 million. This is the largest single day outflow since the ETF was launched, surpassing the previous record set on Dec. 24 when $188.7 million in BTC (1,933 Bitcoins) were withdrawn from the BlackRock-operated exchange-traded fund.

In late December 2024, well-known Bitcoin investor Robert Kiyosaki voiced criticism towards BlackRock and its CEO Larry Fink for selling off their Bitcoin holdings. According to Kiyosaki, BlackRock was unloading Bitcoin in an attempt to keep its value under $100,000, thus allowing large investors (whales) to acquire digital gold at a substantial discount. This significant outflow of Bitcoin from BlackRock caught the attention of many influential figures on the X app, sparking public discussion about this matter.

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2025-01-04 14:23