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In a shocking turn of events, the cryptocurrency market has witnessed a surge in institutional interest as 13 new Ethereum whales have increased their holdings by acquiring over 10,000 ETH each within the past 24 hours. This significant accumulation activity serves as a clear indication that institutions are pouring millions into the digital asset.
The staggering development comes on the heels of a recent market dip, where ETH prices fluctuated between $3,206 and $3,050 before stabilizing at around $3,134. Despite this price movement, it appears that institutional investors have not lost faith in the token’s potential.
In a stark contrast to the uncertainty surrounding Bitcoin ETFs, big money investors are seemingly abandoning ship for Ethereum ETFs and one viral altcoin. It remains unclear what drives such drastic changes in investment strategy, but it is evident that institutions are gravitating towards ETH.
BlackRock, a renowned institutional investor, has now surpassed the 1.2 million ETH mark, highlighting the growing significance of institutional interest in the digital asset.
Source: cryptonewsland.com
