- Consensys-linked whale buys $320 million ETH from Galaxy Digital.
- The whale then transfers the newly purchased ETH to a new wallet.
- Following this, the whale staked $120 million ETH in Liquid Collective.
The crypto market is currently seeing a lot of ETH-related activity in terms of accumulation. To highlight, several bullish ETH accumulation moves have been made over the last few days by whales and institutions as well. Vitalik Buterin himself bought ETH recently. Of all these bullish ETH accumulation moves, a Consensys-linked whale bought $320 million ETH from Galaxy Digital and went on to stake $120 million ETH with Liquid Collective.
Consensys-Linked Whale Buys $320 Million ETH
According to CoinMarketCap analytics, the price of Ethereum (ETH) is currently sitting at $2,604, indicating a price decline by 1.4% in the last 24 hours and a decline of over 4% in the last 7 days. It boasts a total market cap of $314,302,696,602.42 and a 24-hour trading volume of $17,967,169,525.82. The pioneer altcoin is still over 45% away from reclaiming its previous ATH set at $4,891 4 years ago.
Expectations for the start of 2025 to usher altseason peak with Ethereum at its lead were high. However, the crypto market instead experienced a prolonged correction phase led by BTC that went on for the entire quarter. Initially, altseason was expected to arrive in Q1 following the Bitcoin Halving year, as it always had. Due to the correction, analysts resigned to the arrival of a delayed altseason instead.
So it was as both the prices of BTC and ETH began to recover at the start of Q2, igniting altseason sentiments once again. In a much healthier crypto market, Bitcoin went on to hit a new ATH at the $111,000 price range, while ETH pumped from a bottom of $1,700 to $2,700. Now, ETH price has dipped to below the $2,700 price range, giving ETH whales and institutions the chance to heavily accumulate during the slight dip.
Among the many heavily accumulating ETH are BlackRock and several other long-time whales. Amid this accumulation frenzy, Arkham recognizes the possibility of another reputed player joining the ETH accumulation race. To highlight, Arkham Intelligence tracks the movement of a Consensys-linked wallet making an ETH buy move on Galaxy Digital, the institutional digital assets and data centre leader.
As we can see from the post above, the Arkham Intelligence post identifies a whale linked to Consensys acquiring $320 million ETH from Galaxy Digital. The whale then went on to transfer the ETH purchase to a new wallet where he staked $120 million ETH with Liquid Collective, a trusted and secure staking standard. This further highlights the growing parabolic bullish pump expectations for the pioneer altcoin ETH in the coming weeks ahead.
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