Mystery buyer acquires $1B Ethereum via institutional channels as ETH tops $4,300

A $1B Ethereum purchase has sent shockwaves through the crypto market, igniting speculation over the identity of the whale investor behind the massive buy. The transaction, spotted on-chain late Monday, pushed ETH prices higher and fueled debate among analysts over whether the move signals institutional accumulation, a high-profile corporate entry, or a strategic play ahead of major network upgrades.

In the last 24 hours alone, the same entity executed another $1B Ethereum purchase, worth $212 million, splitting the holdings across six wallets. Blockchain records indicate the assets were sourced from Galaxy Digital, FalconX, and BitGo. The largest wallet holds $181 million in Ether, while the smallest contains $128 million.

The buying spree coincides with a surge in large-scale Ethereum addresses, with Glassnode reporting that wallets holding more than 10,000 ETH reached 868,886 on Saturday, the highest level in over a year.

“This type of accumulation, especially in a short period, suggests strategic positioning ahead of a potential price breakout,” — Marcus Zhao, market strategist at CryptoQuant, told Blockchain Daily.

Ethereum overtakes Mastercard in market cap

The $1B Ethereum purchase comes as Ethereum’s market capitalization climbed to $523 billion on Monday, briefly overtaking payments giant Mastercard’s $519 billion valuation, according to CompaniesMarketCap. Ether’s price crossed $4,000 for the first time in months, trading at $4,332 at the time of publication.

CoinGecko data shows that more than 304,000 ETH, worth over $1.3 billion, was added by publicly listed companies with Ether holdings in the past week. BitMine Immersion Technologies accounted for the largest share, executing its own $1B Ethereum purchase equivalent to more than 208,000 ETH, valued at over $900 million. SharpLink Gaming followed, adding $303 million worth of Ether to its corporate treasury.

“This is a clear signal that institutional interest in Ethereum remains robust,” — Jessica Lin, senior analyst at DeFi Research Group, said in a statement.

Analysts eye $20K target, but caution remains

Following the $1B Ethereum purchase, market sentiment has turned increasingly bullish. Technical analyst Nilesh Verma projected that Ether could reach $20,000 within six to eight months, citing historical price patterns. Another trader, known as Merlijn The Trader, suggested the asset might surpass that figure and potentially establish new all-time highs.

However, not all experts share the same level of optimism. Ethereum co-founder Vitalik Buterin welcomed the trend of companies adding Ether to their treasuries but warned of potential risks.

“It’s healthy for long-term adoption if companies hold ETH, but this should not turn into an overleveraged game,” — Vitalik Buterin, co-founder, Ethereum, said during a recent Q&A. “If everyone borrows against ETH to buy more, it could create instability.”

Institutional momentum and whale influence

The $1B Ethereum purchase has reignited discussions on the influence of large holders, or “whales,” in the crypto market. With the mysterious buyer now among the top Ether holders, questions remain over their long-term intentions whether they are positioning for staking rewards, anticipating ETF approvals, or preparing for major on-chain developments like future Layer 2 scaling upgrades.

Analysts note that the $1B Ethereum purchase pattern split across multiple wallets and sourced from major liquidity providers reflects a strategy often used to minimize market disruption while quietly building large positions.

For retail investors, the sudden $1B Ethereum purchase is a double-edged sword. On one hand, it signals confidence from deep-pocketed players; on the other, it raises concerns over the concentration of supply in a small number of wallets, which could impact liquidity if these entities decide to sell.

Whale moves could define Q4 market trend

With Ether’s market cap now ahead of Mastercard and corporate treasuries adding significant amounts, the crypto community is closely watching whether the $1B Ethereum purchase is a one-off event or part of a larger accumulation strategy.

If institutional buying continues at this pace, Ethereum’s path toward a $20,000 valuation as some analysts forecast could accelerate. However, market veterans caution that whale-driven rallies often face corrections, especially if leveraged positions build too quickly.

For now, the $1B Ethereum purchase remains one of the most talked-about developments in the 2025 crypto market, underscoring the growing role of institutional money in shaping digital asset prices.