$1.15 Billion Worth of Ethereum has been acquired by a single mysterious institution in just seven days.
Blockchain analytics platform Lookonchain confirmed the buyer’s aggressive accumulation strategy, with purchases now totaling 266,165 ETH. In the past hour alone, the institution created two more wallets and bought an additional 44,999 ETH valued at $194 million. This consistent buying continues even as Ethereum’s price pushes above $4,000 for the first time since late 2021.
Relentless accumulation despite price climb
Eighteen hours before the latest purchase, the buyer had already accumulated 221,166 ETH worth nearly $947 million. Now spreading holdings across eight wallets, each valued between $128 million and $181 million, the entity avoids major exchanges. Instead, acquisitions come through major trading desks and custodians like Galaxy Digital, FalconX, and BitGo. This pattern signals that the buyer is likely a large financial institution or corporate entity rather than an individual.
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Corporate Ethereum rush hits new records
The $1.15 Billion Worth of Ethereum is part of a wider corporate accumulation wave. In just one week, public companies bought over 304,000 ETH worth $1.3 billion. BitMine Immersion Technologies leads the charge, holding 833,137 ETH worth $2.9 billion, built from zero in only 35 days. SharpLink Gaming follows closely, securing $303 million worth of Ethereum and amassing 521,000 ETH worth nearly $2 billion.
Unlike Bitcoin, which is often viewed as digital gold, Ethereum offers extensive functionality through smart contracts, decentralized finance, and staking yields. These qualities make it attractive to companies seeking blockchain-based growth opportunities.
Market impact and rising valuations
Institutional buying pushed Ethereum’s price up 21% over the past week, breaking the $4,100 resistance level after 18 months. Ethereum’s market capitalization reached $523 billion, surpassing Mastercard’s $519 billion valuation. This milestone underlines the growing influence of cryptocurrency in global finance.
The number of large ETH holders is also at a yearly high, with 868,886 wallets now holding more than 10,000 ETH. The aggressive buying pace, including a $194 million purchase in one hour, signals strong confidence in Ethereum’s future growth potential.