Based on onchain data sourced from LookOnChain, a substantial cryptocurrency whale acquired 10,000 units of Ethereum, valued at 17.14 million USDC, via UniSwap immediately after Grayscale emerged victorious in its legal battle against the SEC.
The said whale completed its final acquisition of 4,000 ETH in the minutes following the price surge, securing an average rate of $1,714 per ETH. As of now, Ethereum is being traded at $1,719.
This specific whale’s transaction is believed to be a significant catalyst behind the abrupt upswing in the value of Ethereum.
As of the current moment, the whale in question possesses approximately $37 million worth of ETH, $17 million worth of USDC, along with holdings in other assets including 340,000 dollars of RBN, 100 thousand dollars of BLUR, and 82 thousand dollars of TON tokens.
With news of Grayscale’s favorable outcome against the SEC, the value of Bitcoin witnessed a growth of over 5% from the $26,000 threshold, reaching around 27,500. The SEC has a 45-day window to announce its subsequent actions, and an appeal of the verdict is highly anticipated.
*This content does not constitute investment advice.