New Wallets Acquire 40,591 ETH, Totaling $148 Million
- New wallets bought 40,591 ETH on July 24, 2025.
- Acquisition indicates possible institutional involvement.
- ETH price surged 21% in the past week.
Multiple new addresses acquired 40,591 ETH, approximately $148 million, on July 24, 2025, confirmed by on-chain monitors.
ETH Acquisition by New Wallets
Multiple new addresses were used to purchase 40,591 ETH. Analysts indicate this could be part of an institutional strategy, as on-chain activity matches known patterns of institutional behavior.
Involved entities are unclear as no official ownership disclosures have been made. New wallets were designed for temporary aggregation or OTC settlement, as reported by Lookonchain.
Market Impact and Insights
The purchase impacts the Ethereum market, with a 21% price increase. It suggests institutional demand within the U.S., indicated by exchange data from Coinbase. According to CryptoDan, Independent Analyst at CryptoQuant,
A premium on Ethereum, unseen in recent times, has emerged on Coinbase, a platform primarily used by U.S. institutions and whales… the steady rise in buying activity, presumably from U.S. whales, is noteworthy.
No direct regulatory actions have been noted regarding these transactions. It’s in line with the ongoing trend of institutional accumulation noted in recent months by public companies.
Further price movements may occur as institutional interest grows. The absence of direct regulatory feedback suggests market volatility may continue, driven by investor speculation and exchange activity signs. Regulatory clarity and technological developments could influence future market stability.
