We have begun purchasing the whale that started Great Rare at Ethereum in May! “I received a $754 million ETH purchase!” Will the same rise occur?

Although Ethereum (ETH) has not yet experienced a major rise, the rapidly increasing institutional accumulation could open the door to bull gatherings for ETH.

This is because many companies have recently accumulated a huge amount of ETH.

At this point, the latest acquisition news came from Matrixport, Abraxas Capital and Sharplink games.

According to a post by Lookonchain, Matrixport and Abraxas Capital have withdrawn more than $230 million in ETH from the exchange.

Addresses believed to be connected to Matrixport have withdrawn 40,734 ETH worth $144 million from Crypto Exchanges Binance and OKX in the last 24 hours, while Abraxas Capital has withdrawn 48,823 ETH worth $126 million from Binance and Kraken in the same period.

London-based asset management company Abraxas Capital purchased around $500 million worth of Ethereum (ETH) in just six days in mid-May. Alongside these purchases, ETH prices have led to a major rise, rising from $1,800 to $2,600 over the six days from May 8th to May 14th.

Buy $500 million Ethereum!

Sharplink Gaming, the largest institutional ETH owner after the Ethereum Foundation, also bought 200,905 ETH (198,167 ETH, 2,738 ETH in the second transaction), worth just yesterday and today, totaling $524 million.

Cryptoquant analysts also said that a large amount of ETH was purchased by institutional companies, ETFs and whales last June. Therefore, the amount of ETH held by wallets that do not belong to centralized crypto exchanges (CEX) and have limited Ethereum output broke records in June. The amount of Ethereum held in these wallets reached ETH 227,465 million as of June 30, a significant increase of 35.97% in a month.

*This is not investment advice.