Ethereum News Today: Ethereum Surges 17% on Institutional Interest and Whale Activity as $60M Redirected to RTX Presale

Ethereum’s price has surged 17% year-on-year, trading at approximately $3,723, driven by institutional interest and on-chain whale activity. Despite a bullish chart indicating potential resistance at $4,000, on-chain data reveals a significant shift in whale behavior. Over 16 million ETH—valued at $60 million—was recently transferred to Coinbase via an unknown wallet, as reported by cryptocurrency analysis firm Whale_alert [2]. This movement coincides with Ethereum whales redirecting capital toward Remittix (RTX), a PayFi project in its presale phase.

The presale has attracted notable attention, with 569 million RTX tokens sold out of 750 million, raising $17.3 million. This reflects investor confidence in the project’s potential to disrupt cross-border payments. Remittix aims to bridge traditional finance and crypto by enabling fiat-to-crypto transactions across 30+ companies. Its tokenomics include a capped supply of 750 million RTX, with liquidity and team tokens locked for three years. Smart contracts are audited by CertiK, and an upcoming wallet in Q3 will offer real-time foreign exchange (FX) conversion, reducing costs for cross-border transfers [3].

Analysts highlight RTX’s competitive positioning, likening it to “XRP 2.0” as it targets XRP and Stripe in the remittance sector. The project’s flat-fee structure—eliminating hidden charges for FX or wires—adds to its appeal. Whale accumulation into RTX suggests a belief in its capacity to scale beyond crypto, catering to freelance and remittance economies.

While Ethereum’s technical indicators show strength, with RSI above 70 indicating overbought conditions, whale activity signals a strategic reallocation. The confluence of Ethereum’s bullish trend and whale diversification into RTX underscores a broader market narrative of seeking high-growth altcoins. However, investors are cautioned to conduct due diligence, as the presale’s success does not guarantee future returns.

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