ConsenSys Goes All-In: $422M ETH Purchase Sparks $3000 Ethereum Price Speculation

Blockchain giant ConsenSys just dropped a $422 million bomb on Ethereum—and the market's buzzing. Could this be the catalyst that finally pushes ETH past $3000?

Whales are circling. The moment ConsenSys' wallet movements hit the blockchain, traders started recalculating their price targets. This isn't just another institutional dip—it's a full-scale strategic accumulation.

Meanwhile, traditional finance bros are still trying to explain why they called it 'a speculative asset' at $200. The joke writes itself.

With this level of conviction from one of Ethereum's core developers, the real question isn't if ETH hits $3000—but how soon. Buckle up.

ConsenSys Bought ETH Worth $422 Million

Lookonchain in an X post on June 24 revealed a whale or institution probably linked to ConsenSys purchased another 3,704 ETH worth $8.91 million. The trade was conducted again through Galaxy Digital over-the-counter (OTC) trading desk.

Notably, the wallet 0xCd9…F5F75 purchased a total of 161,112 ETH through Galaxy Digital OTC in the past 3 weeks, which is valued at almost $422 million. Arkham Intelligence showed that the wallet made frequent transfer to 0x0b2…83E57 wallet, which primarily holds Liquid Staked ETH (LsETH) over $187 million. However, the wallets’ LINK to ConsenSys remain vague.

Whale Alert reported ETH accumulation by many whales in the last 48 hours as the price dipped NEAR the 2,200 level. A whale moved 28,000 ETH worth $67 million from Binance to an unknown wallet. This indicates that whales or institutions are positioning for long-term holding.

🚨 🚨 🚨 28,000 #ETH (67,202,703 USD) transferred from #Binance to unknown wallethttps://t.co/lrA41LP3bi

Will Ethereum Price Hit $3,000 Amid Huge Accumulation?

ETH price jumped more than 7% in the past 24 hours, with the price currently trading at $2,419. The 24-hour low and high are $2,191 and $2,446, respectively. Furthermore, the trading volume has increased by 10% in the last 24 hours, indicating a slight rise in interest among traders.

In the daily timeframe, Ethereum price is currently moving strongly but still below the 50-SMA. It needs to reclaim above the $2,500 for picking upside momentum. The RSI has rebounded to 46 signals, providing support for further upside in ETH price.

Moreover, exponential moving average (EMA) indicates possible consolidation or the price may seem stuck between $2,500-$2,750 range this month. ethereum price may rally in July after the formation of a “golden cross,” pushing traders to buy ETH.

Analyst Michael van de Poppe pointed out that ETH is acting strongly in the recent turmoil in the markets. He predicted a reclaim of 0.023 in the ETH/BTC chart will bring a strong upwards momentum.

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