Whales and Institutions Pile Into Ethereum Ahead of Record Price Levels

Ethereum is seeing massive buying activity from significant players, with institutions and whales investing heavily ahead of potential record highs. BitMine Immersion Technology spearheaded the surge, accumulating $470 million in ETH over just ten hours through large OTC deals facilitated by intermediaries like Galaxy Digital, FalconX, and BitGo. Meanwhile, an anonymous whale withdrew a substantial amount, signifying long-term storage, from Kraken, suggesting a commitment to holding their ETH for the long haul. 💰 📈 This buying spree coincides with major fundraising activities, as BitMine is raising $24.5 billion through an at-the-market stock offering and SharpLink secured a significant $389 million through a share sale. 🚀 Other whales have joined the party, accumulating over $1.3 billion in ETH across multiple wallets, surpassing the $1 billion inflows seen by ETFs earlier this month. 📈💰