Two New Wallets Accumulate $35.2M in Ethereum Within 10 Hours, Data Shows

Two newly created wallets accumulated 18,914.13 ETH, worth about $35.2 million, over 10 hours at an average price of $1,861 per ETH. The article frames the activity as a potentially bullish on-chain signal because the funds were moved into new wallets rather than exchanges, which can indicate long-term holding and reduced immediate sell pressure. Analysts noted the pattern resembles prior treasury-style accumulation activity, though the buyer’s identity is unconfirmed and may not be Bitmine. The report suggests the purchase could reflect institutional confidence in Ethereum amid trading around the $1,800–$1,900 range. Overall, the piece points to growing institutional interest and possible supply tightening for ETH, but stresses caution because on-chain flows do not guarantee near-term price moves.