Ethereum has been hovering near the $4,000 mark, driven by a major turnaround in the US Securities and Exchange Commission’s decision to approve spot ETH ETFs. This development has fueled trader optimism about the leading altcoin’s price trajectory.ETH has gained almost 20% over the past month. The resurgence in its performance has been mainly influenced by the market’s expectation to spot Ethereum ETFs in the United States.
The volume of Ether entering exchanges reached its peak since January, with a net inflow of 140.66k ETH on May 26th, marking the highest net deposits in more than four months. Furthermore, this investor had accumulated 17,770 ETH between 2017 and 2020 at an average cost of $182 per ETH. On March 28, 2024, they sold this ETH at a price of $3,503 per token, generating a profit of around $59 million.by the platform, who recently withdrew 2,856 ETH, valued at $11 million, from Kraken. This whale had previously accumulated 35,176 ETH from the same exchange at an average price of $428 per ETH between October 2018 and November 2022.
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