Ethereum Supply Distribution Suggests Long-Term Bullish Signal: Santiment
Market intelligence platform Santiment suggests Ethereum’s institution-dominated supply distribution spells long-term bullish sentiments for the asset.
Supply distribution is a crucial tokenomics element for cryptocurrencies. For context, the more evenly distributed an asset is, the less impact its price will suffer from whale selloffs.
However, this reality changes when institutions enter the game. A crypto asset with more institutional adoption has long-term security and higher chances of continued uptrends.
On this front, data from Santiment has revealed a bullish supply distribution for Ethereum. The second-largest cryptocurrency by market cap has over 57% of its supply locked among institutions, a long-term bullish narrative for the altcoin king.
Ethereum Whale Holdings Hit All-Time High
In a Tuesday tweet, Santiment shared that an exclusive caliber of Ethereum whales has amassed an unprecedented amount of the asset’s supply. Per the data, wallets holding at least 100,000 ETH now command a staggering 57.35% of Ethereum’s supply.
Consequently, the balances of other Ethereum holders have depreciated considerably. The market intelligence platform pointed out that whales holding between 100 and 100,000 ETH have dropped to their lowest-ever supply control.
The whales now hold just 33.46%, losing market share to large high-caliber holders. Meanwhile, retail Ethereum wallets – addresses with less than 100 ETH – have reached a multi-year low.
The faction of Ethereum holders now commands just 9.19% of the asset’s supply, their lowest since January 2021.
Santiment Shares Market Implication
Following the disclosure, Santiment buttressed the market implications of the distribution shift. The platform noted that the increased stash among high-caliber whales is a long-term bullish signal.
Santiment acknowledged that staking platforms and decentralized finance (DeFi) protocols control a large portion of Ethereum’s supply. As a result, their continued accumulation suggests that they are locking away more of the asset.
Notably, this growing accumulation could create a shock if demand increases. Consequently, a demand shock will spur price upticks, favoring Ethereum investors.
Meanwhile, Ethereum has regained bullish momentum amidst sustained inflows from its US spot ETFs. The altcoin king has reclaimed the $4,000 price mark after an 8% weekly uptick.
At press time, Ethereum trades at $4,024 with a market cap of $484 billion.
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In a swift move, Vitalik Buterin converted assets from various Memecoin projects into 140.6 ETH (~$340k). Notable assets sold include:
• 100,000 USDT from CateonEthereum
• 70.71M Neiro Crypto
• 11.76B MOODENG tokens
• 7.8M DEGEN tokens

⏳ The entire process took just 30 minutes, showcasing Buterin’s efficiency in managing contributions!
🛠 Vitalik Supports Optimism's SuperchainERC20 Update

Buterin is also backing the latest SuperchainERC20 update, improving:
• Cross-chain scalability 🌐
• New ICrosschainERC20 interface for minting & burning 🔥
• Enhanced collaboration in Ethereum's Layer-2 ecosystem 🤝
🌱 Lowering Ethereum’s Minimum Staking Requirements
Vitalik has proposed reducing Ethereum’s staking minimum:
• Current: 32 ETH
• Proposed: 16 ETH and eventually 1 ETH
This opens the door for more participation in network security! 🔐

🔥 Ethereum continues to evolve, with Buterin shaping its future towards greater scalability, inclusivity, and decentralization! 💡
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#VitalikButerinTransaction

U.S. regulators have given the final approval for spot exchange-traded funds (ETFs) that hold Ethereum's ether (ETH), providing Americans easy access to the second major cryptocurrency through these tradable vehicles. This one marks the latest after the U.S. Securities and Exchange Commission (SEC) gave the green light on Bitcoin (BTC) exchange-traded funds (ETFs) in January, a development that has boosted acceptance of the crypto market broadly. 
The approval brings the process of getting ether ETFs approved by the market regulatory agency, the SEC, to a logical end. This decision is expected to encourage tether investments into conventional investors' scope, given that such funds can be bought and sold through traditional brokers. New Bitcoin ETFs that came in early this year have already seen investment in tens of billions of dollars. 
The approval of Ethereum ETFs initially appeared uncertain, but in late May, SEC officials, who had been silent for a considerable period, began engaging with potential ETF issuers. This engagement culminated on May 23 when the regulator approved an essential filing, paving the way for the entire approval announced on July 22, 2024.
Milestones Achieved in the Ethereum ETF Era of Crypto
"We are now officially in the age of ETFs in crypto," concluded Matt Hougan, Chief Investment Officer at Bitwise." With low-cost ETPs, they can get exposure to more than 70% of the liquid crypto asset market." 
Kyle DaCruz, who currently holds the position of head of digital assets at VanEck, also gave his sentiments a thumbs up. The executive said, "We have always considered that investors should have exposure to Ethereum in a product that they are comfortable with, and that is why when we first applied for the Ethereum ETF back in 2021, we were confident that it would be approved in record time." Thus, while Bitcoin could be considered digital gold, Ethereum would be the App Store, the front door for introducing users to the thousands of applications that will interface with blockchain. 
Conclusion
The approval of Ethereum ETFs marks a significant development in the cryptocurrency market. It allows investors to access a broader range of digital assets through familiar investment vehicles, potentially driving further adoption and investment in the sector. As the crypto market evolves, these ETFs may pave the way for more innovative financial products and greater integration of digital assets into mainstream investment strategies.
The post "U.S. Regulators Approve Ethereum ETFs, Expanding Access to Crypto Investments" first appeared on 36crypto.com News.
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In a recent update from Bloomberg (BBG), Grayscale’s Ethereum Trust (ETHE) has reported a substantial outflow of ETH, amounting to -355.7 million dollars. This significant movement underscores prevailing market sentiments and could have notable implications for Ethereum’s (ETH) price dynamics.
$ETH
Grayscale’s Ethereum Trust is a popular investment vehicle among institutional investors seeking exposure to Ethereum. The reported outflow might indicate a shift in investor confidence or a strategic reallocation of assets.
The cryptocurrency market is known for its volatility, and such large-scale movements can often lead to speculation and uncertainty among investors. Market participants will be keenly watching to see how this development affects the broader ETH ecosystem in the coming days.
#EthereumEFT