Ethereum News Today: Galaxy Digital Adds 23,314 ETH to Wallet Amid $2.89 Billion Ethereum Accumulation Surge

A newly created wallet received 23,314 ETH from Galaxy Digital, valued at approximately $88.27 million, in late July 2025. The transaction marks one of several large Ethereum movements by the firm, which had previously transferred 39,656 ETH—worth around $152 million—to another new address, showcasing continued institutional engagement with the asset [1]. The recent move brings the total Ethereum held in a particular address to 62,966 ETH, reflecting sustained accumulation behavior over the past 20 days [1].

On-chain analysts have highlighted the significance of these transactions, noting that several anonymous addresses have collectively accumulated 790,000 ETH, valued at approximately $2.89 billion, during the same period [1]. The average price paid across these transactions has been around $3,510 per ETH, with Galaxy Digital’s latest acquisition occurring at $3,805 per ETH—indicating a higher conviction purchase [1]. This strategic pricing aligns with broader market expectations of Ethereum’s long-term value and potential regulatory developments, including the possible approval of Ethereum-based exchange-traded funds (ETFs) in major financial markets [1].

The accumulation activity is widely interpreted as a bullish signal within the cryptocurrency community. Analysts point to Ethereum’s deflationary mechanisms, such as EIP-1559, and the increased attractiveness of staking rewards following the network’s transition to Proof-of-Stake, as key drivers of institutional interest [1]. Galaxy Digital, led by CEO Mike Novogratz, has a history of large-scale Ethereum purchases for institutional clients, reinforcing the view that such transfers often serve portfolio management or client settlement purposes [1]. However, the company has not issued any public commentary confirming the motive behind the latest transaction.

Market participants have noted that such large movements can influence Ethereum’s liquidity and volatility in the short term, but the long-term implications depend on the consistency and intent behind these transactions [1]. While some view the accumulation as a sign of confidence in Ethereum’s fundamentals, others remain cautious about potential market concentration and the risk of sudden shifts in position by large holders.

Retail investors are encouraged to monitor on-chain metrics such as exchange inflows, active address growth, and staking ratios to gain a more comprehensive understanding of market dynamics [1]. Tracking tools and analysis platforms play a crucial role in identifying patterns and providing context for large transactions, enabling investors to make informed decisions without directly following whale activity. As Ethereum continues to evolve technically and expand its ecosystem, the actions of major players like Galaxy Digital may offer further insight into the broader institutional adoption of digital assets [1].

Source: [1] Ethereum Whales Accumulation (https://bitcoinworld.co.in/ethereum-whales-accumulation/)