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The SEC approved spot Ethereum ETFs yesterday, following spot Bitcoin ETFs in January.
Although there are some concerns about the lack of staking feature in $ETH ETFs, analysts predict that $ETH and $ETH-based altcoins will experience a major rise in the coming months.
In response to this rally expectation, whales and fresh wallets accelerated purchases in Ethereum-based altcoins.
According to Lookonchain's post, fresh whale wallets made large purchases in Lido DAO ($LDO), Uniswap ($UNI), $AAVE, Chainlink ($LINK) and $ENS altcoins after the ETF approval.
Accordingly, 11 whales purchased approximately over 19 million dollars of altcoins from Binance during the day after the $ETH ETF approval.
“What altcoins are fresh whale wallets buying?
$LDO, $AAVE, $UNI, $LINK, $ENS
0x43cA was created 4 days ago and received 82,040 $ENS ($1.98 million) from Binance 2 hours ago.
0xBbDC was created 4 days ago and received 214,465 $UNI ($1.97 million) from Binance 1 hour ago.
0xCD0a was created 5 days ago and received 19,771 $AAVE ($1.97 million) from Binance 1 hour ago.
0x2019 was created 5 days ago and received 19,991 $AAVE ($2 million) from Binance 1 hour ago.
0xBD07 was created 5 days ago and received 872,702 $LDO ($2.02 million) from Binance 2 hours ago.
0xe934 was created 4 days ago and received 602,324 $LDO ($1.4 million) from Binance 2 hours ago.
0xf07B was created 3 hours ago and received 914,961 $LDO ($2.12 million) from Binance 3 hours ago.
0x2A3C was created 2 hours ago and received 65,541 $LINK ($1.13 million) from Binance 2 hours ago.
Again 3 new wallets/whales received 2.1 million $LDO ($4.7 million) from Binance in the last 30 minutes.
Whale “0x2872” received $904,900 $LDO ($2.03 million) from Binance 1 minute ago.
New wallet “0xf07B” received 914,961 $LDO ($2.05 million) from Binance 20 minutes ago.
New wallet “0xccAD” received 277,949 $LDO ($622K) from Binance 15 minutes ago.”
What altcoins on #Ethereum are fresh whale wallets buying?$LDO $AAVE $UNI $LINK $ENS
0x43cA was created 4 days ago and withdrew 82,040 $ENS($1.98M) from #Binance 2 hours ago.https://t.co/A1BIRbZUbq
0xBbDC was created 4 days ago and withdrew 214,465 $UNI($1.97M) from #Binance… pic.twitter.com/KPUkEcWzpz
— Lookonchain (@lookonchain) May 24, 2024
*This is not investment advice.