ConsenSys has recently purchased 108,278 ETH for a value of about $320 million from the digital assets firm, Galaxy Digital. This purchase was reported by Arkham Intelligence, a firm specializing in deanonymizing blockchain transactions.
After withdrawing ETH from Galaxy Digital, ConsenSys-linked whale appears to have moved them to another address to maintain anonymity. Founded by Joseph Lubin, who co-founded Ethereum, ConsenSys has regularly added to its treasury by changing funds to ETH, as in its $450 million series D round from 2022. There is no official record tying these transactions to ConsenSys.
Following the acquisition, a certain amount of ETH was staked with Liquid Collective which is an institutional Ethereum staking solution. This action corresponds with rising institutional support for the ethereum version of Proof-of-Stake (PoS).
Galaxy Digital is continuously overseeing its Ethereum assets. We can see from recent data that Galaxy Digital’s OTC wallets have moved thousands of ETH to big exchanges, including a deposit of 23,900 ETH or $42.52 million sent to Coinbase in just eight hours. Moving assets indicates Galaxy Digital is involved in the Ethereum market.
The $320 million ETH transaction hasn’t been fully explained, but it signals that more institutions are getting involved in both Ethereum and the entire crypto industry. Recently, Sharplink also raised $425 million to buy Ether while its overall plan stands to purchase $1 billion worth of ETH.
Also Read: Sharplink Partners Galaxy Digital Amid $425M Raise for Ethereum
