Ethereum Wallet Connected to Cumberland Accumulates 23,463 ETH

A Cumberland-linked wallet added 3,263 ETH, increasing total holdings to 23,463.3 ETH valued at $76.52 million at current market prices.

Wallet’s entry point of $3,261 per ETH yields $6.63 million in unrealized profit as Ethereum trades around $3,566.

Ethereum’s uptrend stays intact with steady EMA support and buying momentum, mirroring the wallet’s strategic accumulation pattern.

A cryptocurrency wallet suspected to be associated with trading firm Cumberland has added 3,263 ETH worth approximately $11.75 million, according to on-chain data shared by analyst @ai_9684xtpa. This latest transaction occurred within the past eight hours and continues a consistent buying trend seen since mid-June.

The wallet now holds 23,463.3 ETH, valued at an estimated $76.52 million at current market prices. Data indicates that the average entry price for the accumulated ETH stands at $3,261. This price level keeps the wallet in profit, with an unrealized gain of around $6.63 million.

Ethereum Maintains Uptrend Above $3,500

Ethereum is trading at $3,566, holding steady above the $3,500 level. Price movements since early July reflect an upward trajectory, supported by consistent demand. The 4-hour chart confirms higher lows and sustained momentum. Each pullback found support near the 50-period exponential moving average, which currently sits at $3,216.9.

Since June 18, the address has followed a clear pattern of accumulation during consolidation phases, rather than short-term trades. The most recent acquisition occurred at the top of the current trading range, suggesting a strategy of scaling in at various price levels. The absence of outgoing transactions reinforces the view that the wallet is focused on long-term accumulation.

Market Participation Signals Institutional Interest

This steady inflow has drawn increased attention, especially as the Ethereum market sees more institutional involvement. Analysts have linked the address to Cumberland due to its size and recurring transaction structure. Activity from this wallet appears to align with key market support levels and buying interest.

Ethereum continues to move within an ascending price channel, with strong support from the EMA on the 4-hour chart. A recent high of $3,580.5 remains intact, though the price trades close to this level. Volume spikes on breakouts also support ongoing bullish sentiment.

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