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In the past month, the Ethereum (ETH) market has quietly undergone significant changes. Data shows that since July 10, over 1.035 million ETH (approximately $4.167 billion) have been accumulated by mysterious large investors or institutions through various channels. This phenomenon is highly correlated with the significant rise in ETH prices, which soared from $2,600 to $4,000 during the same period, an increase of 45%.
Analysis indicates that these large-scale purchases are likely coming from institutional investors or publicly listed companies that use ETH as a reserve asset. It is worth noting that this data does not include known SBET holding addresses. The average purchase price of these new holdings is approximately $3,546.
This phenomenon reflects the increasing confidence of institutional investors in the Ethereum ecosystem. With the continued prosperity of decentralized finance (DeFi) and non-fungible token (NFT) markets, the value proposition of the Ethereum network seems to be attracting more large investors.
However, this large-scale accumulation has also raised concerns in the market about potential risks. If these large holders decide to sell off in the short term, it could have a significant impact on the price of ETH. Therefore, investors should closely monitor the movements of these "whale" addresses to better grasp market trends.
Nevertheless, the continued entry of institutional investors undoubtedly injects new vitality into the Ethereum ecosystem. With the gradual implementation of Ethereum 2.0, the network's scalability and energy efficiency are expected to improve significantly, which may further stimulate interest in institutional investment.
Overall, the market changes over the past month have highlighted the important position of Ethereum in the cryptocurrency field, while also reflecting the increasing attention of traditional financial institutions towards blockchain technology. In the future, as the regulatory environment gradually becomes clearer and technology continues to advance, we may see more institutional investors entering this field.