Institutional demand for Ether is surging, with BitMine and an unknown whale acquiring nearly $882 million in ETH through OTC deals and exchange withdrawals, signaling a robust interest in Ethereum.
BitMine purchased 106,485 ETH worth approximately $470.5 million in just 10 hours.
An unidentified whale accumulated 92,899 ETH, valued at around $412 million, over four days.
Standard Chartered raised its 2025 Ether price target to $7,500, reflecting increased institutional interest.
Discover how institutional demand is reshaping the Ethereum landscape with nearly $882 million in recent acquisitions. Stay informed!
What is driving the recent surge in Ether purchases?
The recent surge in Ether purchases is primarily driven by institutional investors, with BitMine leading the charge by acquiring significant amounts of ETH. This trend reflects a growing confidence in Ethereum’s future value.
How are institutions acquiring Ether?
Institutions are acquiring Ether through large over-the-counter (OTC) deals and direct transfers from notable intermediaries like Galaxy Digital and BitGo. This method allows for substantial purchases without impacting market prices significantly.
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BitMine has emerged as a key player in the Ether market, recently acquiring 106,485 ETH, which highlights the increasing institutional interest in Ethereum.
Whales are accumulating Ether now due to favorable market conditions and anticipated price increases, making it a strategic investment for long-term gains.
The recent surge in Ether acquisitions by institutions like BitMine and unidentified whales underscores a strong bullish sentiment in the market. With price predictions soaring, Ethereum’s future looks promising, making it an attractive asset for investors.
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Source: https://en.coinotag.com/bitmine-and-whale-accumulate-nearly-882-million-in-ether-amid-rising-institutional-interest/