New Wallets Hoard $35M in Ethereum in Just 10 Hours
Two new wallets have accumulated approximately $35.2 million in Ethereum over the past 10 hours, according to data from BlockBeats.
The purchases were made at an average price of $1,861 per ETH, indicating a large-scale acquisition in the Ethereum market.
Analysts believe the transaction patterns may be similar to those of Bitmine, a company known for holding Ethereum as part of its treasury strategy. However, the report notes that Bitmine has not previously acquired holdings through Coinbase, suggesting that another institutional investor may be involved.
The accumulation comes at a time when Ethereum's price has been fluctuating around the $1,800-$1,900 range, and some analysts see it as a bullish signal. However, without confirmed identity of the buyer, market participants should approach this data with caution.