Ethereum's Top 10 Whale Addresses Add 1 Million ETH In A Day, Evolve Files for Ether ETF

After slipping to a low of $1300 earlier on Sunday, the world’s second-largest cryptocurrency Ethereum is steadily consolidating around $1550 levels over the last 48 hours. However, it seems that ETH whales are scooping the most ETH coins during the recent correction.

As per on-chain data provider Santiment, the top-10 Ethereum non-exchange whale addresses are holding the most supply in almost the last 5 years. The data provider reports that as of Monday, March 1, these addresses added a massive 1 million ETH coins taking its total holdings close to 17 million.

Ethereum whales have been active since the beginning of this year. Besides, a lot of ETH coins have been moving off exchanges with institutional accumulation. Also, the ETH coins moved for staking with the ETH 2.0 Deposit Contracts have surged past 3.3 million.

Evolve Submits Preliminary Prospectus for Ether ETF

Canada-based Evolve Funds who secured the Bitcoin ETF license and launched it last month is now taking a further step with Ether ETF. The financial giant has submitted a preliminary prospectus with the Canadian securities regulators for the Evolve Ether ETF (ETHR). Raj Lala, President and CEO, at Evolve said:

“As a leader in disruptive innovation, we look forward to providing Canadian investors with access to another leading cryptocurrency through an ETF structure. Cryptocurrencies are fundamentally transforming digital finance and Evolve is quickly establishing itself as a leading facilitator for investing in this space. Ether is a digital asset that is not issued by any government, bank or central organization and was intended to complement rather than compete with bitcoin.”

The investment price objective of ETHR is to track ETH’s daily price movement wrt to USD. The Evolve Ether ETF (ETHR) will offer U.S. dollar denominated unhedged units (“USD Units”) and Canadian dollar-denominated unhedged units (“CAD Units”).

Institutional players have been warming up to Ethereum (ETH) this year. Grayscale purchases over 300,000 ETH coins over the last month.

Ethereum Lands on Amazon Blockchain

In another major development, Ethereum has now landed on the Amazon-managed blockchain network. The official announcement notes:

“With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten. With Amazon Managed Blockchain, customers get secure networking, encryption at rest and transport, secure access to the network via standard open-source Ethereum APIs, fast and reliable syncs to the Ethereum blockchain, and durable elastic storage for ledger data”.

The Amazon blockchain will further track node health, replace unhealthy nodes, as well as automate other Ethereum software upgrades.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Source: Read Full Article