Ethereum sees 221,166 ETH worth nearly $1 billion acquired by unidentified entity in one week

In a surprising move, an anonymous entity has aggressively accumulated Ethereum (ETH) in the past week, purchasing 221,166 ETH, valued at approximately $1 billion. According to data analytics platform Lookonchain, the mysterious institution spent $212 million of that total in just the past 24 hours alone. The entity is using six different wallets to store its Ether holdings, which were acquired from notable firms like Galaxy Digital, FalconX, and BitGo. The largest wallet in the group contains $181 million worth of ETH, while the smallest holds $128 million.

The buying spree comes amid a broader rally in Ethereum, which saw a 21% increase in value over the past week, pushing Ether’s price above the $4,000 mark for the first time in 2025. At the time of publication, ETH was trading at $4,274, contributing to Ethereum’s market capitalization rising to $523 billion. This surge allowed Ethereum to overtake Mastercard, whose market cap sits at $519 billion.

Ethereum market capitalization overtakes Mastercard

In addition to the mysterious institution, several publicly traded companies have been increasing their Ether holdings. Over 304,000 ETH, valued at more than $1.3 billion, was added to Ether treasuries in the past week. BitMine Immersion Technologies led the way, acquiring over 208,000 ETH, worth more than $900 million. SharpLink Gaming followed, purchasing $303 million worth of Ether.

As the institutional accumulation of Ether intensifies, the number of Ether addresses holding over 10,000 ETH has reached a record high of 868,886 addresses, the highest in a year, according to Glassnode data.

Analysts remain bullish on Ether’s price potential

With the strong institutional interest and the recent price rally, analysts are becoming increasingly bullish on Ether’s future performance. Some experts, including analyst Nilesh Verma, predict that ETH could reach as high as $20,000 within the next six to eight months based on historical price patterns. Other analysts, like Merlijn The Trader, are also projecting a potential surge beyond the $20,000 mark in the coming months.

However, Ethereum co-founder Vitalik Buterin has urged caution, especially in light of increasing institutional purchases. While supporting companies that hold Ether as part of their treasuries, Buterin warned against excessive leverage, which could risk the stability and long-term success of the asset. He cautioned that an overleveraged market could lead to ETH’s downfall if the price were to decline and trigger forced liquidations.