Unknown Entity Buys Nearly $1B in Ethereum in Just One Week

An unidentified entity has acquired nearly $1 billion worth of Ether in just one week, signaling strong institutional interest in the world’s second-largest cryptocurrency by market capitalization. A total of 221,166 ETH were purchased during a period when the asset’s price increased by 21%, according to Lookonchain.

These purchases are far from random. The buyer used six separate wallets, all funded through Galaxy Digital, FalconX, and BitGo — companies known for their institutional-grade infrastructure. The largest wallet holds $181 million in ETH, while the smallest contains $128 million.

Glassnode data shows that the number of Ethereum addresses holding more than 10,000 ETH has reached 868,886, the highest level in the past 12 months. This growing concentration of capital among large holders can influence both market liquidity and volatility.

With a market capitalization of $523 billion, Ethereum has surpassed Mastercard, solidifying its position as a major digital infrastructure, not just a speculative asset. This trend may indicate a stage of market maturity but also brings risks associated with significant accumulation by single entities.