Ethereum’s price has surged by 23.7% over the past 36 hours, bouncing back from a low of $2,188.

This impressive rebound follows significant trading activity, including a notable withdrawal by Justin Sun.

Just 10 hours ago, Sun withdrew 14,884 ETH, equivalent to $35.97 million, from Binance. Since February, Sun has accumulated a total of 392,474 ETH, with an estimated initial cost of $1.19 billion. At today’s prices, his holdings are valued at approximately $995 million.

In addition to this withdrawal, Sun has also deposited a net amount of $49 million in USDT to HTX over the past three days. This move aligns with a broader trend of institutional and significant player activity in the Ethereum market.

Ethereum Spot ETF Maintains Net Inflow Of $48 Million 

On August 5, Ethereum spot ETFs saw a net inflow of $48.73 million. Specifically, Grayscale’s ETHE experienced an outflow of $46.84 million, while BlackRock’s ETHA saw an inflow of $47.09 million. Additionally, VanEck’s ETHV reported an inflow of $16.62 million.

The recent market activity highlights Ethereum’s volatile yet resilient nature, as it continues to attract significant investment and exhibit strong recovery potential.

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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