A whale who might be associated with Consensys has acquired $320 million worth of Ethereum (ETH) from Galaxy Digital, according to on-chain data revealed by Arkham Intelligence.
The transaction was sent to a newly established wallet (0x0b2), where approximately $120 million worth of ETH was subsequently staked with Liquid Collective. This move could add weight to a new trend we’ve seen from the institutional side in crypto investments: staking as a preferred strategy for maximizing yield while maintaining liquidity.
This anonymous investor’s portfolio has a valuation of $372 million, with Ethereum representing the majority of holdings. The movement of such a large sum into staking has sparked speculation about the wallet’s purpose—whether it’s part of Consensys’ treasury, an investment vehicle, or a strategy aimed at increasing staking rewards amid Ethereum’s evolving market dynamics.
We’ve been seeing a growth in institutional staking adoption, particularly since Ethereum’s Pectra upgrade on May 7. This update has facilitated staking as a more flexible and efficient strategy for large-scale investors. With Pectra introducing smart accounts and allowing arbitrary ETH staking amounts, institutions now have more control over how they allocate assets.
This development comes as Ethereum maintains a strong position above $2,500, with analysts predicting further upside if institutional adoption ramps up. Just today, another massive player in the institutional investment game, BlackRock, made a huge Ether purchase.
The fund manager acquired the sum of $50 million in ETH, further reinforcing the growing institutional interest in Ethereum.
For readers exploring new exchanges, WEEX is currently offering early users a chance to claim up to 100 USDT just for signing up and verifying — no strings attached.
