A surge of high-value purchases has sent Ethereum soaring above $4,300 and lifted its market capitalization to $523 billion, edging past Mastercard in global rankings.
The buying frenzy has been fueled by both corporate treasuries and deep-pocketed investors, with blockchain analysts tracing some of the largest transactions in months.
Recent data reveals an unidentified institution has been quietly building a massive Ether position. Using a network of six wallets, the buyer has drawn supply from major over-the-counter desks including Galaxy Digital, FalconX, and BitGo. The largest of these wallets now contains roughly $181 million in ETH.
This push from the private sector follows a week where public companies added more than $1.3 billion worth of Ether to their balance sheets, according to CoinGecko. BitMine Immersion Technologies was the biggest mover, snapping up over 208,000 ETH in a single week. SharpLink Gaming followed with a $303 million purchase.
The combined effect of whale accumulation and corporate adoption has reshaped Ethereum’s holder landscape. Glassnode reports that addresses holding more than 10,000 ETH are at their highest count in a year, a sign that big players are consolidating positions as the market gains momentum.
Analysts are increasingly confident about the asset’s trajectory. Nilesh Verma predicts Ethereum could climb to $20,000 within the next six to eight months, while trader Merlijn The Trader believes the milestone could be surpassed entirely. Both point to strong historical fractals that match the current breakout pattern.
Still, the buying wave comes with warnings. Ethereum co-founder Vitalik Buterin has voiced support for treasury accumulation but cautions that excessive leverage or speculative chasing could turn the current optimism into a dangerous bubble.
With institutional wallets swelling and major firms joining the rally, Ethereum enters a critical phase — one where its price could accelerate to unprecedented levels or face the destabilizing weight of its own success.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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