According to recent data from Lookonchain, a significant institutional investor, potentially linked to ConsenSys, executed an over-the-counter (OTC) purchase of 5,463 ETH valued at approximately $14 million. This transaction occurred just three hours ago, underscoring continued confidence in Ethereum’s market potential. Over the last fortnight, this entity has strategically amassed a substantial holding of 166,199 ETH, with an aggregate investment nearing $435 million. The average acquisition price stands at around $2,618 per ETH, reflecting a calculated entry point amid current market conditions. Such large-scale accumulation by a whale address signals a noteworthy trend in institutional interest, highlighting Ethereum’s sustained appeal within the crypto investment landscape.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024