A mysterious whale has stirred the crypto community by creating 10 new wallets and acquiring 312,052 ETH, valued at around $1.34 billion.
Creation of New Wallets and Purchases
On-chain data reveals that the purchases were made through three major institutional trading firms: FalconX, Galaxy Digital, and BitGo. The rapid accumulation is fueling bullish speculation in the crypto community.
Institutional Buying Strategy
The transactions appear to have been executed through multiple discreet transfers, likely via OTC (over-the-counter) deals, to avoid large price swings. This buying pattern is typical of high-net-worth or institutional players seeking to build positions quietly.
Market Sentiment and Expectations
Large, sustained accumulation from an unknown whale often creates a strong psychological impact on traders. Many view it as a sign of confidence in Ethereum’s long-term value, particularly during uncertain macroeconomic conditions. If buying continues, the reduced available supply on exchanges could push ETH prices higher.
While the whale's identity remains unknown, the market is already buzzing with theories, and some traders are positioning themselves for a potential rally.
