A massive Ethereum whale, known as “0xe3e,” has been offloading significant amounts of ETH over the past few days.
In just three days, the whale sold 10,595 ETH for $24.7 million USDT. Regardless of market direction, this whale continues to sell 87.56 ETH for USDT every few minutes.
Their current holdings stand at 6,042 ETH (worth $14.7 million), which is about 36.3% of their original stash. Estimated total profits? A staggering $39.34 million, equating to a 451x return.
10,595 $ETH has been sold for 24.7M $USDT by this ancient whale in just 3 days!
Regardless of whether the market goes up or down, the ancient whale '0xe3e' continues to sell 87.56 $ETH for $USDT every few minutes.
Current holdings: 6,042 $ETH ($14.7M), ~36.3% of the original… https://t.co/80uSiGC9dp pic.twitter.com/QdBc3RV9Tl
— Spot On Chain (@spotonchain) September 19, 2024
Meanwhile, another whale recently purchased 2,117.7 ETH for $5.17 million after Ethereum prices surged, taking a long position using circular borrowing. However, this whale faced liquidation on August 5th, losing 6,078 ETH ($14.7 million) when the market took a sharp dip. Over the past six months, this whale has lost $13 million by repeatedly going long on Ethereum, achieving a win rate of just 20% across five attempts.
A whale bought 2,117.7 $ETH($5.17M) after the $ETH price rose and went long on $ETH through circular borrowing again!
He was also liquidated for 6,078 $ETH($14.7M) when the price plummeted on Aug 5!
In the past 6 months, he lost $13M by going long on $ETH!
He went long on $ETH… pic.twitter.com/URz01cfUv1
— Lookonchain (@lookonchain) September 19, 2024
Ethereum ETFs Holds Almost 3 Million ETH
On the institutional side, Ethereum ETFs hold a combined 2,862,403.31 ETH, valued at over $7.19 billion as of August 31, 2024. Grayscale remains the largest player in this space, with its ETHE fund holding 1,807,243.19 ETH (valued at $4.38 billion) and an additional 368,975.90 ETH in its Grayscale Mini fund. This dominance underscores Grayscale’s influence over Ethereum ETFs.
🧵 Thread about Ethereum Spot ETFs.
1/6 The total ETH holdings across all ETFs stand at 2,862,403.31 ETH, valued at $7,193,291,065.80 as of August 31, 2024. This substantial holding indicates strong institutional interest in Ethereum ETFs. pic.twitter.com/CY5pjQKJ1g
— IT Tech (@IT_Tech_PL) September 19, 2024
Despite significant inflows and outflows, Ethereum ETFs continue to attract institutional interest from the likes of BlackRock, Fidelity, and Bitwise. As of September 16, 2024, ETHE shows a strong correlation with Ethereum’s price (averaging 0.86), while the overall Ethereum price rose from $1,318.41 in September 2022 to $2,332.83 in 2024, indicating a promising long-term trend for both Ethereum and its ETFs.
Ethereum spot ETF had a total net outflow of $9.738 million yesterday, Grayscale ETF ETHE had a net outflow of $14.6629 million, and BlackRock ETF ETHA had an inflow of $4.9249 million. https://t.co/Tvs2oCSxTg
— Wu Blockchain (@WuBlockchain) September 19, 2024
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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