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Bitget and Jambo Collaborate on Satellite Launch Amid Funding Challenges for Blockchain Expansion

Bitget has announced a strategic partnership with Jambo, aiming to revolutionize decentralized communication through an ambitious satellite launch. Jambo is on a mission to secure $5 million via a token Bitcoin.com

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Whale Movements and Market Dynamics Shake Ethereum ($ETH)

Recently, a significant whale made waves in the Ethereum market by depositing 20,000 ETH ($67.6 million) into Kraken. This follows a pattern where the same whale withdrew 217,513 ETH ($350.5 million) from both Kraken and Coinbase in late 2022, originally acquired at an average price of $1,611. Since March 2024, this whale has continued to deposit ETH, totaling 146,639 ETH ($464.8 million) at an average price of $3,170. With 70,874 ETH ($240 million) left, the whale has accrued a substantial profit of $354 million. A giant whale deposited 20K $ETH ($67.6M) into #Kraken again 45 minutes ago. This whale withdrew 217,513 $ETH ($350.5M) from #Kraken and #Coinbase between Aug 31 and Sept 9, 2022 at an average price of $1,611. Since Mar 6, 2024, this whale has deposited 146,639 $ETH ($464.8M) to… pic.twitter.com/DAlNJMTd54 — Lookonchain (@lookonchain) January 16, 2025 Other Whale Activities In addition to the giant whale, other significant movements were observed. A newly created wallet withdrew 2,884 ETH ($9.57 million) from Binance, while three whales collectively dumped 10,895 ETH ($36.47 million) over the past three hours. Notably, jitrust.eth incurred a loss of $1.6 million by depositing 4,669 ETH ($15.65 million) into Binance. Another newly created wallet withdrew 2,884 $ETH ($9.57M) from #Binance 30 mins ago. https://t.co/ZQIzpIO1SC https://t.co/HKuBcemhy6 pic.twitter.com/2MakMwwGgX — Lookonchain (@lookonchain) January 16, 2025 Meanwhile, specific wallets sold substantial amounts of ETH at recent market prices: 4,216 ETH ($14.08 million) at $3,341 and 2,010 ETH ($6.74 million) at $3,352. 3 whales dumped 10,895 $ETH ($36.47M) in the past 3 hours. jitrust.eth deposit 4,669 $ETH ($15.65M) to #Binance for a loss of $1.6M. 0x0945…4Cec sold 4,216 $ETH ($14.08M) at $3,341 and 0x0121…fDb7 sold 2,010 $ETH ($6.74M) at $3,352. https://t.co/QVT9qF9NuZ … pic.twitter.com/wiGbQk3NSL — Lookonchain (@lookonchain) January 16, 2025 Ethereum Spot ETFs Inflows On January 15, Ethereum spot ETFs witnessed a total net inflow of $59.7821 million. Fidelity’s FETH ETF led with a net inflow of $29.3164 million, followed by BlackRock’s ETHA ETF with $19.8486 million in net inflows. On January 15, the total net inflow of Ethereum spot ETFs was $59.7821 million. The net inflow of Fidelity ETF FETH was $29.3164 million, and the net inflow of BlackRock ETF ETHA was $19.8486 million. https://t.co/Tvs2oCSxTg pic.twitter.com/xDnyNSsVbq — Wu Blockchain (@WuBlockchain) January 16, 2025 Market Implications and Analysis These whale activities highlight ongoing volatility and strategic positioning within the Ethereum market. While large deposits signal confidence and potential bullish sentiment, significant sell-offs and withdrawals indicate profit-taking and market adjustment strategies. The influx of capital through Ethereum spot ETFs further underscores institutional interest and its impact on market liquidity and price dynamics. Conclusion As Ethereum continues to navigate these whale-driven movements and ETF inflows, market participants remain vigilant for further developments that could influence price trends and investor sentiment in the near term. Understanding these dynamics is crucial for assessing Ethereum’s resilience and potential future directions in the broader cryptocurrency landscape. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: nexusplexus/ 123RF // Image Effects by Colorcinch Bitcoin.com