Altcoin News

PEPE Whale Shifts Focus To Ethereum As ETF Optimism Builds

Amid the optimism building up with the imminent launch of ETH ETF, a whale has strategically shifted focus from PEPE to Ethereum, fueling inferences on future price movements.
Published by
PEPE Whale Shifts Focus To Ethereum As ETF Optimism Builds

Highlights

  • A whale swapped PEPE for ETH amid the ongoing Ethereum ETF buzz.
  • As the ETF launch approaches, market sentiments stay optimistic.
  • PEPE and ETH prices gained today.

The latest on-chain insights reveal that a crypto market whale has strategically switched funds from PEPE to ETH amid optimism building up around the launch of an Ethereum ETF. Following the submission of eight S-1 amendment filings, this swap of funds has emerged, portraying optimism for ETH’s future price movements. Meanwhile, it’s worth noting that Pepe coin has also recently emerged as the talk of the crypto town, surging to unprecedented levels.

So, let’s take a deeper dive into the whale’s strategic investments and what it could mean for future market performances.

Advertisement

Whale Diverts Funds To ETH

According to data revealed by EmberCN on June 28, the whale 0x837 has been recorded switching 1.4 trillion PEPE to 2,646 ETH.

The trader transferred 1.4 trillion PEPE, worth $18.01 million, to Binance. Subsequently, a withdrawal of $9.04 million worth of ETH took place from the same exchange.

It’s worth noting that these accumulations happened at an average price of $3,416. Also, market sentiments have tilted towards optimistic for Ethereum, primarily with the whale’s massive accumulation.

The whale activity also comes in light of recent optimism on the ETH ETF. As mentioned above, eight firms, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco, have submitted S-1 amendment filings.

Nate Geraci, ETFstore President, further took the stage to claim that the ETH ETF launch is imminent, expected to be in 2-3 weeks.

Meanwhile, ETH & PEPE prices experienced considerable gains today.

Also Read: AVAX Price Rally To Surpass Solana Price Surge: Santiment

Advertisement

ETH & PEPE Price Performance

While writing, PEPE’s price showed a 1.39% upswing to trade at $0.00001244. On the other hand, the ETH price chart showed a 0.86% upswing in value to $3,453.94.

Conversely, Coinglass data illustrates a 1.75% drop in Ethereum’s Futures OI to $15.19 billion. The derivatives volume tumbled 6.47% to $19.08 billion. This data flags reduced investor interest in the asset, birthing contrasting market sentiments on future movements.

Simultaneously, PEPE’s OI saw a 3.94% pump to $142.37 million, whereas volume dipped 6.94% to $977.38 million.

Also Read: Bitcoin Miner Capitulation Ended? On-Chain Data Signals Market Recovery

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops

Strategy, led by Executive Chairman Michael Saylor, has been left out of the latest S&P…

September 6, 2025
  • 24/7 Cryptocurrency News

Solana Treasury Company SOL Strategies Gets Approval To List On Nasdaq

SOL Strategies Inc. has received approval to be listed on the Nasdaq Global Select Market.…

September 6, 2025
  • 24/7 Cryptocurrency News

Fidelity, Grayscale, VanEck Dump Ethereum Amid ETH Price Crash

Ethereum (ETH) price fell sharply as Fidelity, Grayscale, and VanEck drove heavy ETF outflows, but…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethereum Treasury Firm SharpLink Confirms Compliance Amid Nasdaq Oversight

SharpLink has reaffirmed its full compliance with Nasdaq rules, dismissing speculation about shareholder approval requirements.…

September 5, 2025
  • 24/7 Cryptocurrency News

Trump Media Acquires 684M CRO for Cronos Treasury, Strikes Deal with Crypto.com

A deal with Crypto.com has led to the establishment of a Cronos Treasury by the…

September 5, 2025