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Blockchain data shows that the investor, often referred to as a Bitcoin OG, has now accumulated more than $4 billion worth of ETH and staked the entire balance to earn yield.
Fresh analysis from Arkham Intelligence revealed that the whale ramped up activity on September 1, scooping up another $1.08 billion in ETH in just 24 hours. The move follows a weeks-long rotation strategy in which more than 35,000 BTC were offloaded through Hyperunit since mid-August. The address now controls roughly 886,000 ETH, while still retaining almost 50,000 BTC — giving the whale additional firepower for future buys.
The spending spree has been aggressive. Just a day before the latest billion-dollar purchase, the same wallet snapped up $433 million worth of Ether. All coins have been swiftly staked, signaling a long-term bet on Ethereum’s staking rewards and its role in decentralized finance.
Institutional Demand Echoes Whale Strategy
The whale’s accumulation coincides with strong institutional inflows into U.S. spot Ethereum ETFs. August saw nearly $3.9 billion of net new capital enter these products, marking the fifth consecutive month of double-digit inflows. However, September opened with a slight reversal as ETF issuers recorded outflows of about 4,300 ETH, worth around $19 million.
Despite the hiccup, exchange balances suggest demand for Ethereum is rising. Data from CryptoQuant shows ETH reserves on Binance have been shrinking rapidly, in contrast with Bitcoin holdings, which remain largely steady. Analysts interpret the trend as a sign of persistent buying interest in Ether even during periods of price consolidation.
Institutional adoption adds another layer to this narrative. Firms like BitMine and SharpLink have been strategically stockpiling ETH for their treasuries, reinforcing Ethereum’s position as a preferred asset for long-term allocation.
Short-Term Volatility Still a Risk
Not everyone sees uninterrupted upside ahead. Market analyst Benjamin Cowen recently warned that Ether may struggle in the coming weeks, potentially slipping under the $4,000 mark before finding stronger support. He pointed to the 21-week EMA, currently near $3,500, as a likely level for the next rebound.
Cowen also noted that excitement surrounding the Federal Reserve’s upcoming September 17 rate decision could turn into short-term market weakness, even if the broader outlook for Ethereum remains bullish.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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