'Mysterious institution' buys nearly $1B worth of Ether in a week

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.