Recently, the Ethereum (ETH) market has seen a significant wave of accumulation, attracting widespread attention in the cryptocurrency community. On-chain data reveals that since July 9, 11 new large wallets have emerged in the market, collectively absorbing approximately 722,000 ETH, equivalent to a market capitalization of $2.77 billion. These wallets have each purchased an average of over 65,000 ETH, and such a rapid pace of accumulation undoubtedly demonstrates the strong confidence of large funds in the long-term development prospects of Ethereum.

It is worth noting that in just the past 8 hours, 3 new wallets have added 73,821 ETH, worth approximately $283 million. Meanwhile, according to a report by Arkham Intelligence, a mysterious address has transferred and held 79,461 ETH worth up to $282.5 million through Galaxy Digital's OTC trading platform in just three days. These large-scale buying activities have had a significant impact on market liquidity and price support.

Since the beginning of July, the number of "super whales" holding at least 10,000 ETH addresses has surged by more than 200. Most of these new giants are institutions such as exchanges, large custodial firms, or exchange-traded products (ETP), indicating that various capital sources are flooding into the Ethereum ecosystem through multiple channels.

Traditional financial giants are also actively laying out their positions in the Ethereum market. BlackRock's iShares Ethereum Trust ETF has attracted $1.7 billion in the past ten consecutive trading days, further confirming the strong interest of institutional investors in ETH asset allocation.

The market has also observed cases where a single entity has gradually increased its holdings of over 100,000 ETH, with a total value that is quite substantial. This series of movements indicates that both individual investors and institutions have great expectations for the future development of Ethereum.

With the continuous upgrades and optimizations of the Ethereum network, its applications in decentralized finance (DeFi), non-fungible tokens (NFTs), and other areas are continuously expanding. More and more investors are beginning to recognize the long-term value of Ethereum. However, investors should also be aware that the cryptocurrency market has always been highly volatile, and it is necessary to carefully assess risks when making investment decisions.