Whale Accumulates 161,112 ETH Worth $422M via Galaxy Digital OTC, Signals Strong Ethereum Demand

According to recent data from LookIntoChain, a significant institutional investor, potentially linked to ConsenSys, executed a sizable acquisition of 3,704 ETH valued at approximately $8.91 million via Galaxy Digital OTC. This transaction, occurring just 20 minutes ago, underscores continued confidence in Ethereum’s long-term value proposition. Over the past three weeks, this entity has accumulated a substantial total of 161,112 ETH, representing an investment exceeding $422 million. Such large-scale purchases through OTC channels highlight strategic positioning by major players within the crypto market, reflecting institutional appetite for Ethereum amidst evolving market dynamics. These developments are critical for investors monitoring ETH accumulation trends and institutional involvement, which often serve as indicators of market sentiment and potential price support.