A major Ethereum investor linked to ConsenSys, bought $320 million worth of ETH this week and staked $120 million of it, signalling strong confidence in the cryptocurrency.
According to Arkham intelligence, this investor, linked to ConsenSys, purchased 100,000 ETH from Galaxy Digital. Market experts say that this kind of large-scale buying is a bullish sign for Ethereum.
When big investors hold and stake ETH, it reduces available supply, which could push prices higher. It also shows growing trust in Ethereum’s long-term potential.
However, this move comes after the U.S SEC clarified that stakes Ethereum tokens are not considered securities. This removes a major regulatory concern for institutional investors, making it easier for them to invest in ETH.
Adding to the positive sentiment, BlockRock recently invested $77.1 million in an Ethereum ETF, another sign that big financial players are taking Ethereum seriously.
With more institutions buying and staking ETH, demand could rise while available supply shrinks. This could lead to higher prices and increased trading activity. Experts also believe Ethereum’s growth could be of benefit to other major altcoins in the market.
Read also: NewGen Invests $30M in Solana Staking, Expands Crypto Strategy
