A new whale withdrew 11,370 ETH worth $40 million from Coinbase Prime at an average price of $3,811, turning a quick $400,000 profit. This purchase adds to growing whale activity, with over $2.38 billion in ETH accumulated since early July. Analysts see rising institutional demand and notable spot ETF inflows as drivers behind this surge, signaling increased confidence in Ethereum’s outlook and potential upcoming market catalysts.
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