Two recently created cryptocurrency wallets executed significant Ethereum (ETH) purchases, accumulating more than 49,000 ETH valued at approximately $183 million within a remarkably short three-hour window.
Wallet identified as ‘0x86F’ received 15,000 ETH from institutional crypto platform FalconX. This large single transaction brings the wallet’s total holdings to 39,294 ETH, equivalent to roughly $146 million.
Simultaneously, another new wallet, ‘0x55C’, acquired 9,968 ETH valued around $37.12 million. This ETH was sourced specifically from renowned digital asset firm Galaxy Digital.
The speed and scale of this non-exchange accumulation strongly point towards aggressive institutional buying activity. The direct involvement of established entities like FalconX and Galaxy Digital lends considerable credibility to this movement.
Analysts commonly interpret such large, rapid accumulation by institutional investors as a signal of heightened confidence in the asset’s price stability and perceived long-term value proposition, specifically pointing towards positive sentiment surrounding Ethereum.