Mysterious Whale Buys Over $870M in Ether as Price Surges Past $4,300

An unidentified entity has been on a massive Ether (ETH) buying spree over the past week, acquiring 221,166 ETH as the cryptocurrency rallied 21%. According to blockchain analytics platform Lookonchain, the “mysterious institution” purchased $212 million worth of ETH in the past 24 hours alone. The buyer is reportedly using six separate wallets to store the funds, with holdings sourced from Galaxy Digital, FalconX, and BitGo. The largest wallet contains ETH worth $181 million, while the smallest still holds $128 million. On-chain data from Glassnode shows that addresses holding over 10,000 ETH climbed to 868,886 on Saturday — the highest level in a year. Institutional Buying Pushes Ether Market Cap Higher The aggressive accumulation comes as Ethereum’s market capitalization hit $523 billion on Monday, surpassing payments giant Mastercard’s $519 billion valuation. ETH is currently trading at $4,332, buoyed by strong institutional interest and a week-long rally. Publicly traded companies with Ether treasuries have also increased their holdings significantly . CoinGecko data reveals that more than 304,000 ETH — worth over $1.3 billion — was added in the past week alone. BitMine Immersion Technologies led the charge, purchasing more than 208,000 ETH valued at over $900 million. SharpLink Gaming followed, adding $303 million worth of ETH to its reserves. These moves signal growing institutional confidence in Ethereum, even as its price approaches historically significant resistance levels. Bullish Price Targets and Cautionary Warnings Technical analysts are becoming increasingly optimistic about ETH’s trajectory. Nilesh Verma predicts that Ether could reach $20,000 within the next six to eight months , citing historical price fractals. Merlijn The Trader, another well-known market analyst, has gone further, suggesting ETH could surpass that milestone entirely. However, not all voices are without caution. Ethereum co-founder Vitalik Buterin has expressed support for companies adding ETH to their treasuries but warned against excessive leverage. He emphasized that turning Ether accumulation into an “overleveraged game” could have damaging consequences for the asset’s stability. For now, Ethereum’s price momentum, coupled with institutional inflows and whale accumulation, is keeping bullish sentiment high. Whether the current rally will continue toward analysts’ ambitious price targets — or face a sharp correction — will likely depend on the balance between sustained buying pressure and prudent risk management across the market. The post Mysterious Whale Buys Over $870M in Ether as Price Surges Past $4,300 appeared first on TheCoinrise.com .

Source: The Coin Rise