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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.