Crypto Whale Activity Surges: ETH and DOGE Investments Hit $4 Billion as XRP ETF Sets Record Highs
Focus Keyword: Crypto Whale Activity
The recent surge in crypto whale activity has made significant headlines, as large investors have ramped up their positions in Ethereum (ETH) and Dogecoin (DOGE), while Ripple’s XRP ETF broke records in its US debut. Let’s dive into the details of these developments shaking up the digital asset market.
Crypto Whale Activity: ETH Investors Make Bold Moves
Ethereum, the second-largest cryptocurrency, experienced heightened volatility over the past week. After a brief rally near $4,800, ETH settled around $4,500. Notably, large holders—known as crypto whales—amassed approximately 820,000 ETH, valued at nearly $3.8 billion, within just 72 hours. This brings their collective holdings to an impressive 31 million ETH, accounting for about a quarter of the token’s circulating supply.
Such massive crypto whale activity can reduce available supply in the open market, potentially paving the way for price rallies if demand remains steady. Retail investors often interpret these moves as bullish signals, potentially fueling further market enthusiasm. Moreover, unrealized profits for ETH whales recently soared close to $45 billion, a benchmark last achieved in late 2021.
Dogecoin Whales Amplify Holdings Amid ETF Buzz
Dogecoin also saw a notable uptick in crypto whale activity. Whales acquired 158 million DOGE, worth around $45 million, increasing their total holdings among large addresses to over 11 billion DOGE. Market analysts suggest that breaking the $0.29 resistance could propel DOGE towards $0.36 or even $0.45. The meme coin currently trades at about $0.27, boasting a 28% gain over the month.
This positive momentum is fueled by the successful debut of the first US-based DOGE ETF, launched by REX-Osprey under the ticker DOJE. The product generated $17 million in trading volume on its first day, ranking among the top five ETF launches this year.
Ripple’s XRP ETF Sets New US Record
Alongside DOGE, REX-Osprey introduced a spot ETF for XRP, drawing nearly $38 million in trading volume within 24 hours—an all-time high for such products in 2024. Despite a price dip to around $3.03 (down 2% in 24 hours), XRP previously peaked above $3.15 leading up to the ETF launch, exemplifying a typical “sell-the-news” pattern.
It is important to note that these ETFs differ from traditional spot ETFs in their structure and regulation. For a detailed comparison, check the authoritative overview from CoinDesk.
Additionally, Ripple, the company behind XRP, made headlines with a partnership involving Franklin Templeton (a global investment leader managing over $1.6 trillion) and Singapore’s DBS Bank. This collaboration introduces tokenized money market funds and stablecoins, offering clients the ability to seamlessly rebalance portfolios and earn yields during volatile periods.
Suggested H2: Why Crypto Whale Activity Matters in Today’s Market
The surge in crypto whale activity underscores the growing influence of institutional and large-scale investors in the digital assets space. Their movements not only sway market prices but also offer insight into prevailing sentiments and future trends. As spot ETFs and strategic partnerships emerge, market participants should closely monitor whale activity for early signals of broader market shifts.
For investors and enthusiasts, staying informed about crypto whale activity is key to navigating the evolving landscape of cryptocurrency investments.
