Institutional whale amasses $209M in ETH in nine hours

An institutional or crypto firm address has accumulated 49,533 ETH ($209 million) in the past nine hours, according to on-chain analyst @EmberCN on X. Since Aug. 4, the address has purchased a total of 221,000 ETH worth $955 million through platforms such as FalconX, Galaxy Digital and BitGo, at an average price of $3,794. This position currently holds an unrealized profit of $116 million. As per CoinMarketCap data, ETH is now trading at $4,311.68, up 1.2% in the past 24 hours.