Suspected Hacker Acquires 3,976 ETH Amid Rising Market Interest
- Major Ethereum ETH -0.90% purchase linked to Coinbase hack.
- Coincides with heightened institutional interest.
- Potential impact on Ethereum pricing dynamics.
A wallet connected to the $300M+ Coinbase hack recently acquired 3,976 ETH worth $18.9 million at approximately $4,756 per ETH, drawing increased attention in the cryptocurrency market.
The transaction amplifies Ethereum’s bullish sentiment, coinciding with institutional inflows and raising speculative interest in large-cap altcoins.
A wallet tied to a $300M+ Coinbase hack purchased 3,976 ETH, totaling $18.9 million. This transaction was made at an average price of $4,756 per ETH.
The address, monitored by on-chain analysts, showed a pattern of accumulation in various high-cap altcoins since mid-2025. The latest acquisition highlights a consistent strategy.
The hacker’s buy contributes to market excitement around Ethereum amid renewed institutional interest. ETH experienced a surge, moving past the $4,700 mark in trading volumes.
This activity contrasts with the $800M outflows seen the prior week. An institutional treasury, BitMine, was noted acquiring over 200,000 ETH concurrently.
Such transactions point to a strong bullish sentiment in the market, with on-chain activity being closely scrutinized. Price support may solidify if Ethereum sustains its recent price levels.
The acquisition raises questions about potential regulatory interest and market volatility. Historical trends indicate increased media attention influencing price actions.
“The original heist could exceed $330M, with the hacker showing a consistent pattern of accumulation.” – ZachXBT, On-Chain Investigator
