In recent months, Ethereum has attracted attention from various types of investors, including unknown institutions actively accumulating the asset.
Activity of the Unknown Institution
According to a report by Lookonchain, a mysterious institution has created three new wallets in the past four days and withdrawn 92,899 ETH, equivalent to over $410 million. Information about this institution is limited, and there is currently no clear evidence linking it to well-known players in the Ethereum market.
Major Ethereum Holders
Data shows that Bitmine Immersion Technologies stands out as the largest Ethereum holder, owning nearly 1.3 billion tokens worth over $5.7 billion. SharpLink follows with 598,800 ETH, while Coinbase and Bit Digital hold 136,782 ETH and 120,306 ETH respectively.
Ethereum Market Dynamics
Bitmine's latest purchases occurred during a general market downturn that saw Ethereum's price drop from $4,700 to $4,400. While smaller investors began to panic-sell their holdings, Bitmine spent an additional $470 million to acquire 106,485 tokens.
The current activities of investors and the dynamics of the Ethereum market have attracted the attention of analysts. The future of these trends will depend on the further actions of both major institutional players and smaller investors.
