BlackRock broke its 30-day ETH acquisition streak by depositing over 10,500 ETH to Coinbase Prime, signaling a potential sell-off.
Within hours, BlackRock acquired 11,185 ETH worth $27.2 million in two transactions via Coinbase Prime.
Ethereum's price rose by 5.54% following BlackRock's renewed buy, showing continued institutional interest in the asset.
BlackRock has purchased 11,185 ETH valued at approximately $27.2 million in two transactions within an hour, according to Lookonchain data. The acquisition followed a brief sell-off that ended the firm’s 30-day streak of continuous Ethereum accumulation. ETH was trading at $2,433.33 at the time of reporting, marking a 5.54 percent increase within 24 hours.
One day ago, BlackRock transferred to Coinbase Prime more than 10,500 ETH. This move, which came at a time when Ethereum fell below the important price figure of 2500 support, became a subject of speculation in the market. This was the first time the firm broke the trend of buying during the past month. The deposits pointed at the possibility of an intention to sell further, since massive exchange transfers are a pointer to liquidation processes.
New Acquisition Hints at Strategic Rebalance
Despite the earlier deposit, BlackRock returned to buying within hours. The latest purchase occurred through Coinbase Prime in two separate transfers. Data from Lookonchain confirmed the transactions were completed in under sixty minutes. This sequence of events has raised assumptions that the firm might be adjusting its holdings based on market activity rather than fully exiting positions.
Ethereum’s price rebounded soon after the sell-off, regaining upward momentum. The token climbed 5.54 percent in a single day. Market watchers attributed the movement partly to renewed institutional participation. BlackRock’s swift return to buying was seen as a potential stabilizing signal following the earlier price drop.
Impact of BlackRock's Activity on ETH Markets
The large volumes of the transactions made by BlackRock are still attracting interest. Because it is a large institutional investor, its Ethereum transactions frequently affect market trends in general. The most recent acquisition perhaps suggests that the company is hopeful of Ethereum in the long term, regardless of the recent price volatility.
The sudden occurrence of sell and buy orders registered by BlackRock mostly demonstrates augmented volatility in Ethereum markets. Although it is not known why purchases diminished initially, it appears that rational portfolio management led to the subsequent pick-up in purchases. The trends indicate that Ethereum is increasingly becoming part of institutional approaches to investing.
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