Ethereum Whale Activity Pushes Market Cap Beyond Mastercard
Ethereum has witnessed one of its most aggressive accumulation phases in recent memory, as an unidentified institution purchased nearly $1 billion worth of ETH in just one week. The surge in buying power has propelled the asset’s market capitalization to $523 billion, surpassing global payments giant Mastercard.
Blockchain analytics from Lookonchain revealed that the entity acquired 221,166 ETH over seven days, coinciding with a 21% price rally. In the past 24 hours alone, the buyer scooped up $212 million worth of Ether.
The institution reportedly operates six different wallets, with holdings ranging from $181 million in the largest to $128 million in the smallest.
“Such concentrated buying from a single source indicates a strategic, long-term play rather than short-term speculation,” noted market strategist Arjun Menon.
The accumulation trend extends beyond this mysterious whale. Publicly traded companies added more than 304,000 ETH, worth $1.3 billion, to their treasuries last week. BitMine Immersion Technologies led the charge, securing over 208,000 ETH valued above $900 million, followed by SharpLink Gaming with a $303 million purchase.
Technical analysts are increasingly optimistic. Nilesh Verma forecasts ETH could reach $20,000 within six to eight months, citing historical price fractals. Another analyst, Merlijn The Trader, believes the token “may not just touch $20K but exceed it.”
However, Ethereum co-founder Vitalik Buterin has urged caution, warning against the risks of turning this trend into an “overleveraged game” that could destabilize the market.
The combination of institutional accumulation, corporate treasury adoption, and bullish technical sentiment has created an environment where Ethereum is not only challenging major corporations by market cap but also solidifying its position as a leading digital asset.
For now, the crypto community watches closely to see whether this buying spree marks the beginning of Ethereum’s journey to unprecedented price levels.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.