Mystery Whale Buys $212M in ETH as Price Surges
Main Idea
Large-scale Ethereum purchases by institutional investors and public companies have driven ETH's price above $4,000, with analysts predicting further growth, while Vitalik Buterin warns against excessive leverage.
Key Points
1. An unidentified entity purchased 221,166 ETH ($212 million) across six wallets linked to Galaxy Digital, FalconX, and BitGo, contributing to ETH's price surge.
2. Public companies added over 304,000 ETH ($1.3 billion) to their treasuries in the past week, led by BitMine Immersion Technologies.
3. ETH's market capitalization briefly surpassed $523 billion, overtaking Mastercard, and its price reached $4,332, the first time above $4,000 in over a year.
4. Analysts predict ETH could reach $20,000 in six to eight months, but Vitalik Buterin cautioned against excessive leverage that could destabilize the market.
5. Addresses holding over 10,000 ETH reached 868,886, the highest level in a year, indicating increased large-scale accumulation.
Description
The purchases were spread across six wallets linked to Galaxy Digital, FalconX, and BitGo, and helped push ETH above $4,000 for the first time in over a year. Public companies also joined the buying spree, and added over 304,000 ETH worth $1.3 billion to their treasuries over the past week, led by BitMine Immersion Technologies. While analysts see potential for ETH to hit or exceed $20,000, Vitalik Buterin recently warned against excessive leverage that could destabilize the market. ETH Whale Sp...
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