The crypto space is buzzing again. A whale wallet linked to Ethereum-focused tech company Consensys has reportedly purchased over 100,000 ETH – worth an eye-popping $320 million. Many see this move as a strong vote of confidence in Ethereum's future and a potential catalyst for a new bullish run.
According to data from analytics platform Arkham Intelligence, the Ethereum tokens were bought directly from Galaxy Digital, with $120 million immediately staked via the Liquid Collective platform. The transaction and transfer of tokens to a new wallet address sparked waves of speculation and excitement among investors.
🔹 Institutions Bet on Ethereum
The timing of this transaction aligns with the U.S. Securities and Exchange Commission (SEC) recently clarifying that proof-of-stake assets – like Ethereum – do not fall under the category of securities. This lifted a major regulatory cloud and opened the doors to increased institutional participation.
🔹 Market Reaction Reflects Renewed Optimism
Following the wallet activity, ETH’s price jumped to a 24-hour high of $2,667.17 before stabilizing around $2,627. While a minor correction followed, the market clearly took note of the move.
🔹 BlackRock Joins In, Adding Momentum
Meanwhile, investment giant BlackRock has also stepped into the Ethereum scene, investing $77.1 million into an Ethereum-based ETF. The move further affirms Ethereum’s growing appeal to major financial players.
According to experts, this combination of large-scale accumulation, regulatory clarity, and institutional interest may well lay the groundwork for a new bullish phase for Ethereum. Once again, it seems ETH is drawing in not only retail investors but also the "whales" with long-term vision.
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