Following the recent U.S. election, the cryptocurrency landscape has seen an impressive run, particularly among altcoins, where conversation rates are spiking alongside price movements.
📌 Traders continue to watch Bitcoin closely, with many eager to see if it can hit the $80,000 mark by the week’s end.
📌 Ethereum, meanwhile, has outperformed Bitcoin this past Thursday, with a notable rise to $2,900, boosting its discussion rate and creating a rare moment in the spotlight.
📊 As altcoins made huge runs post-US election, the rate of discussion toward crypto's top assets are directly correlating with price activity.
📌 Most eyes are still on Bitcoin as traders see whether it can surpass $80K by the end of the week
📌 Ethereum has made a recent jump… pic.twitter.com/wiqemhKzpT— Santiment (@santimentfeed) November 7, 2024
In its annual report published on October 31, 2024, the Ethereum Foundation disclosed holding $970.2 million in assets, with $788.7 million in crypto assets, of which 99.45% is in ETH.
The Foundation explained that it periodically sells ETH to ensure robust reserves in the years to come, aiming to fund significant public infrastructure.
The Ethereum Foundation released its 2024 report. As of October 31, 2024, EF's asset reserves are US$970.2 million, of which US$788.7 million are crypto assets, 99.45% are in ETH. The goal of EF's asset reserves is to provide financial support for important public products. It is… pic.twitter.com/Zdd8pc2Ryv
— Wu Blockchain (@WuBlockchain) November 8, 2024
More Whales Buys More Ethereum $ETH
On the whale front, a prominent Ethereum holder who initially acquired 20,222 ETH on October 29 has now bolstered his holdings by another 9,171 ETH in the past 18 hours—worth approximately $26.16 million. Cumulatively, this investor has moved 39,844 ETH (around $107 million) from exchanges since October 29, resulting in a floating profit of $8.29 million.
好一个坚定的 $ETH 多头😎
10.29 起建仓 20222 枚 ETH 的大哥过去 18 小时又双叒增持 9171 枚 ETH，价值 2616 万美金！
自 10.29 他频繁建仓 ETH 以来，已累计从交易所提出 39844 枚 ETH（约 1.07 亿美金），目前浮盈 829 万美金；钱包地址 https://t.co/GrzcOI667b https://t.co/vGOzy3wm4L pic.twitter.com/MCVO4BbE55
— Ai 姨 (@ai_9684xtpa) November 8, 2024
Another whale holding 398,891 ETH (valued at $1.14 billion) sold 29,897 ETH for $84.87 million USDC at $2,839 per ETH following the price surge, securing an 810x return from an initial buy cost of roughly $3.5. This whale still holds 368,992 ETH, valued at $1.07 billion.
The whale with 398,891 $ETH($1.14B) has sold 29,897 $ETH for 84.87M $USDC at $2,839 after the $ETH price rose!
The buying cost was only ~$3.5, and has realized a profit of $84.7M, an 810x return!
The whale still holds 368,992 $ETH($1.07B).https://t.co/RioFfsKgXZ pic.twitter.com/xvNzIwHHNF
— Lookonchain (@lookonchain) November 8, 2024
Additionally, on November 7, the Ethereum spot ETF saw an inflow of $79.74 million, marking its third-largest single-day net inflow on record.
On November 7, Bitcoin spot ETF had a total net inflow of $1.376 billion, BlackRock ETF IBIT had a single-day net inflow of $1.12 billion, both record high. Ethereum spot ETF had a total net inflow of $79.7401 million, the third highest single-day net inflow in history.… pic.twitter.com/gFpwBm9ylb
— Wu Blockchain (@WuBlockchain) November 8, 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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