Blockchain tracking from Lookonchain shows the entity accumulated 312,052 ETH across ten fresh wallets over the past eight days — roughly $300 million more than the $1 billion single-day record set by ETFs earlier this week.
The surge in demand comes with Ethereum trading near $4,460, still around 12% below its all-time high of $4,890.
Analysts suggest the buying pressure could help narrow that gap.
Javier Rodriguez-Alarcón, CIO at XBTO, said the rally is consistent with Ethereum’s historical price patterns but could stall without fresh catalysts, especially if inflation readings surprise to the upside.
He noted that Ether’s current Z-score of –0.06 indicates the move remains within normal volatility ranges.
Meanwhile, some short-term holders have begun locking in profits, signaling caution despite sustained corporate treasury interest in ETH.
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