Ethereum (ETH) 
$2,526made a strong jump during US trading hours, gaining 6.5 percent and reaching $2,630. This rapid rise is linked to the expanding market trend as well as the first Ethereum spot ETF launched in Australia. After the selling pressure in September, ETH gave signals of recovering its losses, creating positive expectations among investors.
Australia’s First ETH Spot ETF Arrives on the Stage
Monochrome Asset Management is launching Australia’s first Ethereum spot ETF, IETH, on the Chicago Board Options Exchange (Cboe) platform. The ETF breathes new life into the market by offering investors the opportunity to buy and sell physical Ethereum directly.
Monochrome previously launched Bitcoin in June 
$64,586 It had taken a similar step with its spot ETF IBTC. For Ethereum, this development is interpreted as an important step towards the regulatory compliance of the market.
PoS Improvement Suggestions from Vitalik Buterin
Vitalik Buterin, one of the founders of Ethereum, offered some important suggestions to improve the Proof of Stake (PoS) mechanism. Buterin, who plans to introduce the “single session finality” system that will speed up the block confirmation process, also proposed to reduce the minimum amount of ETH required for staking to 1. Thus, more users will be encouraged to participate in the Ethereum network.
Massive ETH Transfer from Galaxy Digital
According to Lookonchain data, Galaxy Digital’s OTC (over-the-counter) wallet moved 13,580 ETH (approximately $34.3 million) to exchanges such as Coinbase, OKX and Binance. Large asset movements of this scale can create volatility in prices in the short term and lead to potential selling pressure.
“Galaxy Digital’s OTC wallet transferred 13,580 ETH ($34.3M) to major exchanges in the last 14 hours,” Lookonchain wrote on social media platform X. made the statement
44.4% of ETH Supply Concentrated in Whales
According to data from crypto analysis platform Santiment, 44.4% of the Ethereum supply is held by wallets holding large amounts of ETH. This continuous accumulation of whales shows the confidence of major investors in Ethereum, while increasing the expectation that the price will rise even further.
Additionally, the fact that whale transactions over 100,000 ETH remained stable at 1,520 levels indicates that the market is in a strong consolidation process.
Ethereum is Preparing to Exit Consolidation
Ethereum has followed a horizontal course in a triangle formation in the last two months. This formation allowed buyers to gather strength as the trend lines tightened. Ethereum price is expected to rise towards $3,500 and then to $4,100. However, if market resistance continues, this process may take a little longer and the consolidation trend may continue.
The recent recovery in Ethereum price and innovations in financial products are among the important developments in the market that should be closely monitored. Whales’ increasing ETH accumulation could be a harbinger of a potential price breakout. Investors can take advantage of new opportunities by keeping their strategies flexible in these volatile market conditions.
In short, the upward momentum in the Ethereum market has gained momentum. ETF launched in Australia, PoS improvement proposals and large-scale asset transfers stand out as the main factors shaping the course of ETH in the coming period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
