Ethereum News: Ethereum Whale Buys Nearly $1B in ETH in a Week, Market Cap Overtakes Mastercard
Unidentified institution accumulates 221,166 ETH as addresses holding over 10,000 ETH hit yearly highKey Takeaways:An unknown entity has purchased 221,166 ETH worth nearly $1 billion in the past week.The whale used six wallets, each holding between $128M and $181M in Ether.Ethereum’s market cap hit $523B, surpassing Mastercard’s $519B.Public companies added 304,000 ETH to their treasuries last week.Analysts project ETH could hit $20K within 6–8 months, though some urge caution.Whale Accumulation Reaches Record PaceA “mysterious institution” has bought $987 million worth of Ether in just seven days, according to blockchain analytics firm Lookonchain. The entity, using six separate wallets, sourced ETH from Galaxy Digital, FalconX, and BitGo.The largest wallet now holds $181 million in ETH, while the smallest still contains $128 million. In the last 24 hours alone, the buyer acquired $212 million in ETH at an average price near $4,300.The surge in buying coincides with an increase in large holder addresses — wallets with over 10,000 ETH climbed to 868,886, the highest level in a year, per Glassnode.Ethereum Overtakes Mastercard in Market ValueEthereum’s market capitalization has surged to $523 billion, surpassing Mastercard’s $519 billion, driven by a 21% weekly rally that pushed ETH above the $4,300 level.Publicly traded firms are also boosting exposure — CoinGecko data shows more than 304,000 ETH ($1.3B) was added to corporate treasuries last week. BitMine Immersion Technologies accounted for most of the buying, acquiring 208,000 ETH ($900M), followed by SharpLink Gaming with $303M in purchases.Bullish Price Targets EmergeSome analysts see the latest accumulation wave as a launchpad for ETH’s next major rally.Nilesh Verma projects a move to $20,000 in the next 6–8 months, citing historical fractals.Merlijn The Trader suggests ETH could break past $20,000 entirely, entering price discovery.However, Vitalik Buterin has cautioned that heavy corporate buying should avoid becoming an “overleveraged game,” warning that excessive risk could destabilize the market.Key Levels to WatchImmediate Resistance: $4,350–$4,400Major Milestone: $5,000 psychological barrierUpside Targets: $6,000 (2021 ATH extension) → $8,000 (measured breakout) → $20,000 (long-term fractal target)Support Zones: $4,000 → $3,850