A Whale's Massive 66K ETH Buying Spree in One Day
On January 19, on-chain data revealed a significant accumulation of Ethereum by a high-profile wallet. Over the past 24 hours, this entity has acquired approximately 66,107 stETH, worth over $212 million. In just the last hour alone, it purchased 11,355 wstETH at an average price of $3,932.8 and immediately unwrapped them into stETH via direct on-chain swaps.
- Single transaction cost exceeded $44 million
- High-efficiency execution indicates institutional precision
- Holds 15.93 million USDT, signaling potential for further buys
Why Increase Exposure Now?
This surge in buying coincides with ETH’s price stabilization and gradual recovery. The preference for stETH highlights a strategic move to capture both liquidity and staking yields. With substantial stablecoin reserves still available, the wallet remains well-positioned for additional entries.
Market observers suggest such large-scale accumulation often precedes major shifts. As sentiment improves and network fundamentals strengthen, Ethereum may be entering a new phase of institutional interest.