Nansen: “Whale Activity in Ethereum and ETH-Based Altcoins Surges Ahead of SEC Decision! Funds Pouring into these Altcoins!”
With the SEC’s critical decision on Spot Ethereum ETFs just a day away, whales in the crypto market are turning their attention to Ethereum and ETH-based altcoins. The increasing probability of the SEC approving ETH ETFs, as reported by Bloomberg analysts earlier this week, has fueled the rise in interest.
On-chain data tracking platform Nansen has revealed the most purchased cryptocurrencies amidst this surge of interest. Whales have been notably increasing their purchases of ETH, as well as altcoins like Lido DAO (LDO), weETH, IMX, and GALA.
Ethereum takes the lead as the most purchased cryptocurrency, followed closely by LDO, an Ethereum-based altcoin. Trailing behind are weETH in third place, IMX in fourth, and GALA in fifth.
In the past 24 hours, Ethereum has seen a whopping $47.1 million inflow, while LDO and weETH have recorded inflows of $7.5 million and $3 million, respectively. IMX and GALA have also experienced significant inflows, with $1.3 million and $1 million entering these altcoins.
As a result of these inflows, GALA has reaped the most profits, surging by 13.6% in the last 24 hours and emerging as the second most profitable altcoin.
It’s important to note that this information is provided for informational purposes only and should not be considered investment advice.