Major Crypto Transactions Signal Institutional Interest in Ethereum and Strategic Moves

Justin Sun Moves $244.9M In ETH, Nexo Whale Deposits $17.2M To Binance

On Christmas Eve, notable figures in the crypto space made significant transactions that may signal a growing institutional interest in Ethereum and hint at strategic moves from major players.

According to recent reports, Justin Sun transferred 70,182 ETH (valued at $244.9 million) to HTX. This latest transfer comes on top of his previous deposits of 179,101 ETH, worth approximately $645 million, which he made since November 10. These transactions have been timed close to local market peaks, with an average price of $3,601 per ETH.

Justin Sun’s recent actions have raised eyebrows in the crypto community, as he maintains a sizable stash of Ethereum-related assets. He still holds 106,905 stETH (worth around $372.4 million) and 56,277 ETH (valued at $195.8 million). What’s more noteworthy is that 25,000 ETH (worth approximately $87 million) is currently in the process of being unstaked from Etherfi.

On a separate note, a prominent whale believed to be associated with Nexo made a significant move by depositing 4,946 ETH (roughly $17.2 million) into Binance within the past hour. Notably, since December 2, Nexo has deposited a substantial 114,262 ETH (valued at $423.3 million) into the exchange, with an average price of $3,705 per ETH.

Meanwhile, Ethereum ETFs saw significant inflows on December 24, with a net flow of 45,140 ETH (worth $157.7 million). The majority of this influx went to iShares’ BlackRock Ethereum ETF, which received 26,654 ETH, valued at $93.13 million. The fund now holds over 1 million ETH, amounting to a staggering $3.65 billion.

These transactions signal growing institutional interest in Ethereum and hint at strategic moves from major players in the crypto space.

Source: nulltx.com