A newly emerged cryptocurrency whale has snapped up $1.34 billion worth of Ether in just eight days, surpassing record U.S. spot Ether ETF inflows and sparking speculation over ETH’s price trajectory ahead of key U.S. inflation data.
According to blockchain analytics firm Lookonchain, the buyer accumulated 312,052 ETH across 10 freshly created wallets, outpacing the $1 billion in net inflows seen by U.S. spot Ether ETFs on Monday — their largest daily total since launch.
This billion-dollar buying spree has added $300 million more demand than ETF flows, with analysts suggesting it could help push Ether closer to its record high of $4,890 — still more than 12% above current prices. The move comes as markets await this week’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports, which could heavily influence the U.S. Federal Reserve’s September 17 interest rate decision.
Javier Rodriguez-Alarcón, chief investment officer at XBTO, noted that the CPI and PPI readings are “critical” for shaping monetary policy expectations. Higher-than-expected inflation could dampen risk appetite and potentially stall the ongoing crypto rally. “The rally fits within ETH’s typical behaviour and could pause or consolidate without fresh catalysts,” he said, adding that ETH’s near-neutral Z-score (–0.06) indicates the move remains within its normal volatility range. Continued corporate treasury buying, however, could still push Ether toward its all-time high.
CME Group’s FedWatch tool shows markets currently assign an 82% probability that the Fed will keep rates unchanged in September. Nonetheless, analysts are seeing significant profit-taking by short-term ETH holders — a sign some expect a near-term pullback.