Golden Finance has reported that according to Lookonchain's monitoring, a suspected whale or institution has purchased 108,278 ETH through over-the-counter (OTC) trading, which is valued at approximately $283 million.
In the last 12 hours, Galaxy Digital's OTC wallet has withdrawn 89,000 ETH (approximately $233.5 million) from exchanges, and then 108,278 ETH (approximately $283 million) were transferred to wallet 0x0b26.
Currently, wallet 0x0b26 holds 139,476 ETH, which has a total value of approximately $365 million.
All of this points towards institutions making significant investments in Ethereum. The advantage of OTC trading is that it does not directly impact market prices for large transactions.
Galaxy Digital, which is a prominent crypto financial company, often operates at a strategic level through such OTC transactions. For now, the whale wallet 0x0b26 has a large stock of ETH available.