Summary
TLDR: Bernstein predicts bullish outlook for Ethereum as noted crypto whale purchases $66 million worth of ETH. Focus shifts to potential institutional adoption and approval of SEC spot ETF. Blackrock CEO supports Ethereum ETF and upcoming Dencun upgrade to reduce transaction costs. Whale now holds $233.8 million worth of ETH with $12.38 million unrealized profit.
Key Points
1. Bernstein is bullish on Ethereum and highlights a significant purchase of $66 million by a crypto whale wallet, 0x7a9.
2. The focus is shifting towards Ethereum’s institutional adoption and the potential approval of a spot exchange-traded fund by the SEC.
3. BlackRock CEO Larry Fink supports an Ethereum ETF and the upcoming Dencun upgrade is expected to reduce transaction costs by 50%-90%.