Ethereum whales buy over $100 million in ETH

Ethereum whales continue to diligently accumulate ETH ahead of the Fed's interest rate decision. Several newly created wallets have withdrawn millions of ETH from centralized exchanges within a few days.
According to the on-chain analytics platform Lookonchain, a newly created wallet withdrew 5,297 ETH from Binance and Bitget on September 15. The value of this transaction amounts to approximately $24.7 million.
A few hours earlier, another address had transferred 4,208 ETH worth approximately $19.5 million from Binance. Also on September 15, another whale secured 13,322 ETH from FalconX—equivalent to approximately $61.65 million.
In total, purchases in the last few days alone amount to over 100 million US dollars.
The whale purchases signal optimism regarding the ETH price. No wonder: In the third quarter of this year alone, the second-largest cryptocurrency by market capitalization gained 81.5 percent. Combined with the impending interest rate hike by the US Federal Reserve, this creates a bullish setup for Ethereum.
Sean Dawson, head of research at the on-chain derivatives platform Derive.xyz, said on Monday: “While some fear the rally is about to end, structural factors point to a continuation. Falling interest rates, institutional positioning, and a bullish derivatives market suggest further room for maneuver.”
Anyone who wants to trade Ethereum and other cryptocurrencies can do so with regulated providers such as Bitpanda.

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