'Mysterious institution' buys nearly $1B worth of Ether in a week
Main Idea
A 'mysterious institution' purchased nearly $1 billion worth of Ether in a week, contributing to Ethereum's market cap surpassing Mastercard's, while analysts remain bullish on ETH's price potential.
Key Points
1. A 'mysterious institution' bought 221,166 ETH (worth nearly $1 billion) in a week, including $212 million in the past 24 hours, sourced from Galaxy Digital, FalconX, and BitGo.
2. Ethereum's market capitalization reached $523 billion, overtaking Mastercard's $519 billion valuation.
3. Ether addresses holding over 10,000 ETH hit a one-year high of 868,886, indicating increased accumulation by large holders.
4. Publicly traded companies like BitMine Immersion Technologies and SharpLink Gaming acquired significant amounts of ETH ($900M+ and $303M, respectively) in the same period.
5. Analysts are bullish on ETH's price action, with some predicting it could surpass $20,000, though Ethereum co-founder Vitalik Buterin cautioned about potential risks.
Description
Ethereum’s market capitalization currently sits at $523 billion, overtaking global payment cards firm Mastercard.
Latest News
- S&P Global assigns ‘B-’ credit rating to Sky Protocol, first for DeFi protocol2025-08-11 08:13:26
- Is the four-year crypto cycle dead? Believers are growing louder2025-08-11 07:02:21
- Bitcoin surge to $122K was ‘just a matter of time’ — Analyst2025-08-11 06:54:52
- 'Mysterious institution' buys nearly $1B worth of Ether in a week2025-08-11 06:45:33
- LayerZero, Stargate tokens jump on $110M acquisition plan2025-08-11 06:38:51