Ethereum Whales Take Over, ETH Stuck Below $3,500: What’s Going On?
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Ethereum prices are stable, trending below $3,500, despite the SEC's approval of spot Ethereum ETFs on July 23. Prices are maintained above $3,300 with horizontal movement, yet volatility is anticipated.
Santiment data shows an increase in whale activity, indicating growing confidence in Ethereum. ETH outperforms Bitcoin, evident from the ETHBTC price chart and bullish patterns.
Over $1 billion worth of spot ETF shares were traded within 24 hours of launch, signaling strong institutional interest. This is expected to fuel a bull run if ETH breaks resistance levels.
Analysts emphasize Ethereum's role as a foundational technology in web3, projecting further development of the smart contracts platform.
Source: www.newsbtc.com ↗
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