#CryptoQuant CEO Ki Young Ju announced last week that nearly $ 1 billion worth of #Ethereum was withdrawn from crypto exchange #Coinbase. According to Ki Young Ju, corporate giants are now buying from the leading altcoin Ethereum.
↘️Ki Young Ju: speculative forecast, institutions now buy from leading altcoin ETH
Ki Young Ju, CEO of blockchain data provider CryptoQuant, suggests that the withdrawal of $ 800 million of Ethereum from cryptocurrency exchange Coinbase may have been due to institutional demand for the second largest cryptocurrency. Ki Young Ju adds:
A FEW DAYS AGO, 400,000 ETH CAME OUT FROM COINBASE. SPECULATIVE FORECAST, INSTITUTIONS ARE NOW BUYING ETH.
↘️Digital Money Detail in the Annual Report of the Central Bank
Earlier this year, crypto asset management giant Grayscale announced that 93% of all capital inflows to cryptocurrencies in the last quarter of 2020 came from institutions. During this period, the average weekly investment in #Grayscale Ethereum Trust was $ 26.3 million.
↘️ #Santiment: Whale investment in Ethereum is increasing rapidly!
In early March, cryptocurrency analytics firm #Santiment revealed that major investors (defined as those above 10,000 ETH) controlled around 70% of the cryptocurrency supply. Santiment said:
WITH ETHEREUM TODAY RISING ABOVE $ 1,685 FOR THE FIRST TIME IN 10 DAYS, WHALES (WITH MORE THAN 10,000 ETH ) NOW HAVE 68.6% OF THE TOTAL SUPPLY. THIS REPRESENTS THE HIGHEST PERCENTAGE WHALES HAVE HAD SINCE NOVEMBER 2017. MEANWHILE, 10-10,000 ADDRESSES HAVE THE LOWEST PERCENTAGE SINCE SEPTEMBER 2017.
Ethereum received one of the largest capital inflows relative to other cryptocurrencies last month, according to crypto investment firm CoinShares.
↘️CoinShares: Increasing capital inflows from institutional investors to Ethereum
According to the CoinShares report, capital inflows into Ethereum from institutional investors reached $ 130 million from the beginning of March to March 26, while the total capital inflow for all cryptocurrencies was $ 469 million. The figure accounts for about 28% of the total capital inflow, while Ethereum's market cap is only 12% of the entire area. Year after year, the inflow of funds to Ethereum totaled $ 744 million, representing 17% of the total capital inflow to all crypto assets.