A significant cryptocurrency transaction has captured market attention as an unidentified whale amassed approximately $1.34 billion worth of Ether (ETH) over an eight-day period, distributing the acquisition across 10 newly created wallets. This substantial purchase involved roughly 312,052 ETH and considerably exceeds the record single-day inflows of $1 billion seen in US spot Ether ETFs. The whale’s activity outpaced those ETF inflows by an estimated $300 million, occurring while Ether’s price remains around 12% below its all-time high of $4,890. Notably, over 868,886 addresses now hold more than 10,000 ETH, marking a record high accumulation in a year. On-chain analytics tools have enabled observers to track such large-scale transactions, providing real-time insights into market dynamics.
The accumulation has spurred extensive discussion among market participants regarding Ether’s potential price trajectory, particularly as it coincides with anticipation surrounding forthcoming U.S. inflation data releases. Analysts posit that such large-scale buying could bolster Ether’s price, potentially pushing it closer to its previous peak. The surge in demand, aligned with the timing of upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) reports, suggests a degree of confidence in the cryptocurrency’s appreciation prospects despite prevailing volatility. This increased acquisition may also influence broader investor sentiment and willingness to assume risk within the crypto market. The whale’s purchases were executed through 10 new wallets, highlighting a distributed acquisition strategy designed to mitigate market impact.
Large-scale Ether buying signals confidence ahead of key U.S. inflation data, potentially boosting crypto market sentiment.
The timing of this whale activity appears strategically linked to expected U.S. inflation data, which is considered pivotal ahead of the Federal Reserve’s September 17 interest rate decision. Inflation figures could substantially impact monetary policy outlooks, with higher-than-expected readings possibly dampening investor enthusiasm and limiting crypto rally momentum. While a majority of investors—around 89%—anticipate a Fed rate cut, uncertainty remains, and inflation reports could either catalyze or hinder further price advances in Ether. Monitoring such macroeconomic factors alongside on-chain metrics provides a comprehensive view of potential market shifts.
The whale’s purchases were executed via 10 newly established wallets, reflecting a deliberate and distributed acquisition strategy. Entities connected to prominent crypto firms such as Galaxy Digital, FalconX, and BitGo reportedly participated in related transactions. The largest of these wallets holds approximately $181 million worth of ETH, while the smallest contains over $128 million. Concurrently, institutional players like BitMine Immersion Technologies have also contributed to growing accumulation trends, with Ethereum addresses holding more than 10,000 ETH reaching a yearly high. Ethereum’s market capitalization has surged above $523 billion, surpassing that of Mastercard, and the price rallied 21% concurrent with these activities. Nonetheless, technical indicators suggest current price movements remain within normal volatility, and despite bullish long-term forecasts, caution is warranted given the market’s sensitivity to macroeconomic developments.
