As of July 10, unknown whales or institutions have accumulated 103 million Ethereum (approximately $4.16 billion) through exchanges and institutional platforms, according to on-chain data.
During the same period, ETH prices rose 45% from $2,600 to $4,000. It is estimated that the majority of collected ETH belong to US listed companies or institutional investors holding Ethereum reserves.
The average cost of these purchases was calculated at approximately $3,546.
These numbers do not include the well-known Sharplink game addresses. Sharplink Gaming is known for its recent massive ETH accumulation under the leadership of Ethereum co-founder Joe Lubin. The company currently owns $2 billion worth of ETH.
Sharplink began construction of the ETH Treasury Department just two months ago, growing its position rapidly, selling more than $540 million in shares at market price (ATM). All Sharplink ETH are currently being piled up, generating more than $3.4 million in rewards since June.
*This is not investment advice.
