Mysterious Buyer Accumulates Nearly $1B in Ethereum as Market Cap Surpasses Mastercard
An unidentified institutional buyer has been on an aggressive Ether (ETH) accumulation spree, purchasing 221,166 ETH worth nearly $1 billion over the past week as the asset surged 21%.
According to blockchain analytics platform Lookonchain, the mysterious entity acquired $212 million worth of Ether in just the past 24 hours. The purchases were funneled through six separate wallets, with holdings ranging from $128 million to $181 million per wallet. The Ether was sourced from Galaxy Digital, FalconX, and BitGo.
This mysterious institution accumulated another 49,533 $ETH($212M) today.
Over the past week, they have accumulated 221,166 $ETH($946.6M) from #FalconX, #GalaxyDigital, and #BitGo.https://t.co/k99BomKVq5 pic.twitter.com/u3j2LJ9M1H
— Lookonchain (@lookonchain) August 11, 2025
On-chain data also shows that the number of Ethereum addresses holding more than 10,000 ETH rose to 868,886 on Saturday — the highest level in a year, according to Glassnode.
Ethereum Market Cap Surpasses Mastercard
The buying frenzy coincided with a major market milestone: Ethereum’s market capitalization hit $523 billion on Monday, overtaking payment giant Mastercard (currently $519 billion), according to CompaniesMarketCap.
ETH rallied past the $4,000 mark over the past week and was trading at $4,332 at press time.
Publicly traded companies with Ether treasuries have also been significant buyers. CoinGecko data shows that over the last week, more than 304,000 ETH worth $1.3 billion was added to corporate holdings.
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BitMine Immersion Technologies led the charge with 208,000 ETH worth over $900 million purchased.
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SharpLink Gaming followed with $303 million in ETH acquisitions.
Analysts Eye $20K ETH in Coming Months
Bullish sentiment among technical analysts has intensified. Nilesh Verma projects ETH could reach $20,000 within the next six to eight months, citing historical price fractals.
Similarly, Merlijn The Trader predicts that Ether could surpass $20,000 and potentially climb even higher.
However, industry caution remains. Ethereum co-founder Vitalik Buterin recently voiced support for treasury accumulation but warned against turning it into an “overleveraged game” that could threaten the asset’s stability in the long run.
