Big investors are buying large amounts of Ethereum, signaling growing interest from major players.
- BitMine bought 106,485 ETH worth about $470.5 million
- An unknown whale added 92,899 ETH worth $412 million
- Standard Chartered raised its ETH price forecast to $25,000 by 2028
BitMine Leads With Massive Ethereum Purchase
BitMine Immersion Technology, a public Bitcoin mining company, purchased 106,485 ETH in just 10 hours. The total value of this purchase was roughly $470.5 million. This brings BitMine’s total Ethereum holdings to over 1.29 million ETH, worth around $5.75 billion.
The company made these purchases through OTC (over-the-counter) deals and direct transfers. Some of the intermediaries helping with the transactions include Galaxy Digital, FalconX, and BitGo.
New Whale Adds Hundreds of Millions in ETH
Another unidentified buyer has also been making large Ethereum moves. Over the past four days, this whale bought 92,899 ETH, worth about $412 million. The purchases came from Kraken, a crypto exchange, and were placed into three new wallets.
This strategy suggests the whale is preparing for long-term storage and may expect future price gains.
ETH Price Forecasts Reach New Highs
Standard Chartered Bank has raised its future price targets for Ethereum. The bank now sees ETH reaching $7,500 in 2025, $12,000 in 2026, $18,000 in 2027, and $25,000 by 2028.
The forecast rise comes as more businesses and whales increase their ETH holdings. Experts believe changes in U.S. regulations and wider use of stablecoins are driving interest from large investors.
Some Investors Cashing Out
While many are buying, some major holders are taking profits. A group of whale investors called 7 Siblings sold 19,461 ETH worth $88.2 million in one day. Each token was sold at an average price of $4,532.
Also, the Ethereum Foundation sold 2,795 ETH in two separate transactions, worth a total of $12.7 million.
Source: cointelegraph.com
