In the past week, an unidentified institution has bought a large amount of Ethereum, totaling 221,166 ETH, during which the price of Ethereum increased by 21%.
In just the past 24 hours, this 'mysterious institution' purchased $212 million worth of Ethereum (ETH), according to data from Lookonchain.
The institution stores Ethereum through six different wallets, purchased from Galaxy Digital, FalconX, and BitGo. The wallet holding the most ETH has $181 million worth of Ethereum, while the wallet holding the least ETH still has $128 million worth of Ethereum.
At the same time as the buying spree, the number of addresses holding more than 10,000 ETH reached 868,886, a record high in a year, according to Glassnode.
Ethereum's market cap surpasses Mastercard.
As Ethereum's market cap soared to $523 billion on Monday, the price of Ethereum rose 21% over the past seven days, surpassing the $4,000 mark. It is currently trading at $4,332.
Ethereum's market cap has surpassed that of payment giant Mastercard, with a current market cap of $519 billion, according to CompaniesMarketCap analysis.
In the past week, publicly traded companies held over 304,000 ETH, worth more than $1.3 billion, according to CoinGecko.
BitMine Immersion Technologies has bought over 208,000 ETH, worth over $900 million, followed by SharpLink Gaming, which purchased $303 million worth of Ethereum.
Analysts are optimistic about Ethereum.
Technical analysts are optimistic about Ethereum, with some predicting that the asset may rise to $20,000 in the coming months.
Analyst Nilesh Verma believes that Ethereum may reach the milestone of $20,000 in the next six to eight months.
Meanwhile, renowned analyst Merlijn The Trader predicts that Ethereum may break through $20,000, or even exceed that price level.
However, some industry experts warn investors, particularly Ethereum co-founder Vitalik Buterin, who supports companies holding Ethereum in their finances but also cautions against over-leveraging to avoid asset collapse.
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