Mystery institution adds nearly $1B Ether as price nears all time high

An unidentified entity believed to be an institution has accumulated over 221,000 Ether in the past week as the asset edges closer to its all-time high. According to on-chain analytics platform Lookonchain, the buyer acquired 221,166 ETH — worth roughly $933 million at current prices — over the seven-day period. In the past 24 hours alone, the entity, which the analytics platform dubbed a “mysterious institution,” purchased $212 million in Ether. Data suggests the buyer is operating through six wallets, with holdings spread across balances ranging from $128 million to $181 million. The wallets received their Ether through transactions with institutional trading desks and custodians, including Galaxy Digital, FalconX, and BitGo. While the identity of the entity remains unknown, the size and sourcing of the purchases may have led Lookonchain to believe it was a major institutional player rather than a retail whale. Such structuring is often designed to manage security risks, track internal allocations, or prepare assets for staking or institutional custody solutions. Ethereum is in demand The buying spree coincides with a broader increase in large Ether holdings. Glassnode data shows the number of addresses with more than 10,000 ETH reached 868,886 on Saturday, the highest level in a year. This rise in deep-pocketed holders comes as Ethereum’s market capitalisation hit $523 billion on Monday, overtaking Mastercard’s $519 billion valuation. Over the past week, Ether has rallied more than 20%, breaking through the psychological resistance at $4,000 , which many speculated was essential for the world’s largest altcoin to return to its previous all-time high. Traders and market pundits attribute the upward momentum to continuous institutional demand, especially via spot exchange-traded products in the US, and a broader risk-on sentiment across the crypto markets. A report from blockchain analytics firm Ember CN released last week revealed that over 1.03 million ETH, worth $4.17 billion, was acquired by whales and institutions between July and August. Ethereum’s role as a treasury asset Much of the current demand for Ethereum also stems from corporate treasury companies that have been making headlines as of late. Firms like SharpLink Gaming , which pivoted from gaming into Ethereum treasury management in June, now hold 521,939 ETH, close to $2 billion at current prices. Meanwhile, BitMine Immersion Technologies remains the largest corporate holder with 833,137 ETH worth nearly $3 billion as of August 11. According to data from Strategicethreserve, these companies now hold more than 2.5% of Ethereum’s total circulating supply, and the number of such corporate holders has continued to grow in recent months. Hong Kong-listed healthcare company IVD Medical became one of the latest entrants after adding roughly $19 million worth of ETH to its treasury last week. Ethereum nearing all-time high When writing, Ether was trading at $4,310, up 2.13% in the past 24 hours. At its current price, Etherem was just 11.94% below its all-time high, and a noticeable number of technical analysts had turned increasingly bullish about its chances to enter price discovery mode in the coming weeks. Sykodelic 🔪 @Sykodelic_ · Follow I’m not sure who still needs to hear this from me…But you’re probably still not bullish enough on $ETH .This is the 1M timeframe.We have just broken a 5 year triangle with strength…And for only the 3rd time in 5 years the MACD has crossed bullish.Each time has lead 12:53 AM · Aug 11, 2025 809 Reply Copy link Read 54 replies The post Mystery institution adds nearly $1B Ether as price nears all time high appeared first on Invezz

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