Cryptocurrency exchanges have seen massive Ethereum outflows following the approval of the listing of a spot ETH exchange-traded fund, an on-chain analyst and trader said.
Ali Martinez told his 63,500 followers on social media platform
As of this writing, Ethereum is trading at $3,776, down slightly over the past day.
Turning to fellow layer-1 protocol Toncoin (TON), the analyst said deep-pocketed investors have been busy moving the altcoin.
“The number of large Toncoin transactions ($100,000 or more) surged 237.5% in 24 hours!
This significant increase in TON whale activity suggests a strategic shift in investment and location.”
As of this writing, TON is trading at $6.81, down 1.24% in the last 24 hours.
Looking at Bitcoin (BTC), Martinez said the cryptocurrency king could hit a new all-time high if it trades above its diagonal resistance line.
“Bitcoin appears to be moving out of its symmetrical triangle! A sustained close above the $69,330 resistance level could push BTC up to $74,400.”
As of this writing, the value of Bitcoin is $68,938, up 1.56% over the past day.
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