Grayscale, one of the largest cryptocurrency management companies, made a notable Ethereum transaction on July 23. According to Arkham's data, the company transferred $1 billion worth of Ethereum to the Coinbase Prime wallet. Analysts noted that this transfer was not intended to be an outright sale, but could be a transfer from a high transaction fee to a low transaction fee.
Bloomberg senior ETF analyst Eric Balchunas emphasized that Ethereum has an advantage that Bitcoin ETFs do not have. This transfer was related to the initial balance of the Ethereum mini-trust and was valued at $1 billion. He stated that the Ethereum ETF race stands out with its low transaction fee.
