Ethereum (ETH) Reclaims $3,000 as Spot Ethereum ETFs Forms Get Filed

Ethereum is currently the top trending token in the cryptocurrency market, following the filing of updated S-1 forms for Spot Ethereum ETFs by major financial players including Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock.

Major financial players have filed updated S-1 forms for Spot Ethereum ETFs, causing Ethereum to become the top trending token in the cryptocurrency market.

As reported by Santiment, don’t be surprised if ETH separates from the broader altcoin market.

Ethereum has seen strong market activity and growing institutional interest, with a whale or institution accumulating 16,449 ETH from Binance as the price recovered above $3,000. This marks the whale’s first large ETH accumulation, with all the ETH moved to a new wallet.

Meanwhile, a suspected address linked to Justin Sun purchased 1,614 ETH via 1inch at an average cost of $3,101, totaling $5 million. The address then deposited 20,000 ETH into Aave. This address has now accumulated a total of 65,878 ETH since April 17.

Justin Sun Accused of Owing $4 Million in Unpaid Taxes

In other news, the ETH2 Beacon Deposit Contract, which is used for staking deposits for Ethereum 2.0, now holds an all-time high of 47.36 million ETH. This is good for 33.9% of the entire supply, and more than tripling since the 10.9% it held two years ago.

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