Ethereum Ultra-Long-Term Holders Made Biggest Purchase Since September 2022
CryptoNewsTerminal Staff21 May, 2024
Ethereum Ultra-Long-Term Holders Made Biggest Purchase Since September 2022
CryptoQuant lead analyst Julio Moreno reported that "Ethereum permanent holders went on a buying spree yesterday (local time) in anticipation of a spot ETF approval. They bought 100,000 ETH, the highest level since September last year." This surge in buying activity suggests that long-term investors are optimistic about Ethereum's future prospects. The approval of a spot ETF would provide a more accessible way for institutional investors to gain exposure to Ethereum, which could further drive up demand.
