Overview

• Over the past 48 hours, roughly 15 wallets accumulated more than 406,000 ETH worth over $1.6 billion, according to Lookonchain and other on-chain trackers.
• The purchases were traced to exchange and prime-broker conduits including Kraken, Galaxy Digital, BitGo and FalconX.
• Ethereum traded near $3,900 after a recent low around $3,800, with RSI readings near oversold that keep focus on support and a potential rebound.
• A wallet likely tied to co-founder Jeffrey Wilcke sent about 1,500 ETH to Kraken, prompting sale speculation without confirmation of any liquidation.
• Separate large moves included a Bitcoin buyer accumulating 1,524 BTC (about $171 million) and a single address acquiring 40,937 ETH (around $163 million) from FalconX hot wallets.