Blockchain‐tracking platforms say an unidentified investor has accumulated about 79,461 ether through Galaxy Digital’s over-the-counter desk during the past three days. Arkham Intelligence estimates the purchases cost roughly $300 million; the holding is now valued at about $274 million, leaving the buyer down 8.7 percent after the latest slide in the cryptocurrency’s price. The buying spree comes as other large holders take sharply different positions. Data provider OnchainLens reports one trader added 10,000 ether to an existing short, bringing that bet to 50,000 ether—about $169 million—with an unrealized profit of $12 million. Another address received 25,540 ether worth $86.1 million from brokerage FalconX after previously staking 35,615 ether; that position is showing a $10 million paper loss. While whale activity can foreshadow broader market moves, analysts note that OTC transactions typically have a muted immediate effect on spot liquidity. The contrasting long and short bets highlight the uncertainty surrounding ether’s near-term direction following recent price volatility.