Cryptocurrency whales continue to accumulate over 3,700 ETH worth nearly 9 million USD
According to updated data from Lookonchain, within just the last 20 minutes, a large whale or institution possibly related to ConsenSys has executed an OTC transaction to buy an additional 3,704 ETH, equivalent to approximately 8.91 million USD. This transaction was carried out through Galaxy Digital – one of the reputable OTC brokerage firms in the cryptocurrency field.
Strong accumulation trend in the past 3 weeks
In the past 3 weeks, this whale has accumulated a total of 161,112 ETH, with a total value of approximately 422 million USD, indicating a strategy of gradual buying and large-scale accumulation being implemented. This move reflects strong confidence in the long-term growth trend of Ethereum, alongside a risk allocation strategy through OTC buying to avoid excessive impact on the open market price.
OTC transactions – an optimal tool for large institutions
The OTC buying and selling method helps investment funds or whales avoid discounting, ensuring liquidity while keeping transaction information confidential. Choosing Galaxy Digital as a bridge for such large volume spot transactions further confirms this entity's position in providing services friendly to institutional investors.
Potential impact on the ETH market
The addition of over 161 thousand ETH in a short period puts pressure on the circulating supply, which may stimulate a price increase trend as actual demand for DeFi and NFTs continues to rise. This is also a positive signal for retail investors as whales and large institutions continuously invest in ETH. However, it is still necessary to monitor further market fluctuations to assess the long-term impact.
Conclusion
Large-scale Ethereum accumulation transactions via the OTC channel signal that a significant amount of money is being pumped into the ETH ecosystem. This is the time for individual investors to pay attention to the movements of ETH to seize growth opportunities in this volatile cryptocurrency market. Moves from institutional whales are always important signals to assess long-term trends as well as ambitions to accumulate high-quality digital assets in investment portfolios.
Source: https://tintucbitcoin.com/consensys-chi-891-trieu-usd-mua-eth/
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