A whale wallet address believed to be associated with ConsenSys has continued to purchase an additional 3,704 ETH through Galaxy Digital's OTC trading platform, according to on-chain data shared by Lookonchain this morning. At the current price, this amount of Ethereum is worth approximately 8.91 million USD.
Notably, over the past three weeks, the aforementioned wallet address has consistently accumulated a total of 161,112 ETH through the same OTC channel, equivalent to a total transaction value of about 422 million USD. This large trading chain is attracting the attention of the community as it occurs amid significant volatility in the Ethereum market, raising speculation about strategic moves from major organizations like ConsenSys.
The use of Galaxy Digital's OTC platform – a major financial entity specializing in serving institutional investors – suggests a high likelihood that this is a bulk buying activity from a professional investment organization rather than individual investors.
Source: Allinstation by HC Capital
