Ethereum News Today: Nine fresh wallets accumulate $2.38B in ETH since July 9

Ethereum (ETH) has seen a notable surge in accumulation from newly created wallets, with $2.38 billion worth of the cryptocurrency added to nine fresh addresses since July 9. This buying activity, tracked by on-chain analysts, includes a recent $48.06 million transaction where a wallet identified as 0x286f acquired 12,749 ETH. The scale and timing of these purchases have sparked speculation about the motives behind the accumulation and its potential impact on the broader market [1].

The total volume of ETH acquired by these wallets since mid-July—628,646 tokens—reflects a concentrated effort to amass the asset. One example of this trend is the wallet 0x3dF3, which received 12,000 ETH ($45 million) from a Galaxy Digital OTC address just eight hours before the latest update. Analysts note that the use of fresh wallets for such large-scale purchases suggests strategic positioning, possibly by institutional actors or high-net-worth individuals seeking to build long-term exposure without triggering market volatility [2].

The anonymity of the wallet operators remains a key question. While no direct links to specific entities have been confirmed, the pattern of transactions aligns with typical behaviors of institutional or "whale" investors. These actors often employ new wallets to obscure their identities or separate funds for new investment vehicles. The deliberate nature of the purchases—occurring over weeks rather than a single event—further supports the idea of methodical accumulation rather than speculative retail trading [1].

Market observers are closely monitoring the implications of this activity. Large-scale ETH accumulation can reduce circulating supply, potentially creating upward pressure on prices if demand remains stable. Given ETH’s recent performance and broader crypto market optimism, these transactions could signal confidence in the asset’s fundamentals. However, analysts caution that while on-chain trends like this often precede price movements, they do not guarantee bullish outcomes [2].

The data underscores a growing appetite for Ethereum as a store of value. With nine new wallets collectively amassing $2.38 billion since July 9, the market may be witnessing early signs of a new accumulation phase. Investors are advised to track further on-chain activity, including wallet interactions and transaction patterns, to gauge whether this trend persists or stabilizes [1].

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Source: [1] Fresh Wallets Scoop Up $2.38B in ETH Since July 9 (https://coinmarketcap.com/community/articles/6889801e075a8c1993073ddb/)

[2] Whales keep accumulating $ETH! Fresh wallet 0x3dF3 received another 12,000 $ETH... (@lookonchain, July 30, 2025)