- Cumberland-linked wallet acquired 3,263 ETH worth $11.75M, bringing total holdings to over $76M.
- Ethereum price stays above $3,500, with the wallet’s average entry at $3,261 and $6.63M in unrealized gains.
- The wallet shows steady accumulation, aligning with Ethereum’s uptrend on the 4-hour chart and strong EMA support.
A wallet suspected of belonging to major crypto market maker Cumberland has continued its steady accumulation of Ethereum, adding another 3,263 ETH worth $11.75 million in the last eight hours.
On-chain analyst @ai_9684xtpa shared the data on X, linking the activity to Cumberland based on the address’s pattern of transactions.
The acquisition brings the wallet’s total ETH holdings to 23,463.3, valued at around $76.52 million. Since June 18, the address has consistently added ETH to its balance, signaling steady accumulation rather than short-term trading behavior. Each purchase has averaged around $3,261 per ETH, according to on-chain records.
Related: BlackRock Buys More Ethereum Than Bitcoin, Signaling Big Shift Toward Altcoins
Ethereum Stays Strong Above $3,500
Ethereum trades at $3,566, keeping the wallet’s position in profit by $6.63 million. The 4-hour chart shows consistent upward momentum since early July.
Each retracement found support near the 50-period EMA, which now rests at $3,216.9. The chart displays higher lows and increased buy volume on each breakout.
From July 3, ETH moved in an upward channel. Candles stayed above the EMA with minimal pullbacks. A recent high of $3,580.5 remains unbroken, but the price holds close. No outgoing transactions from the wallet have been recorded during this stretch.
Accumulation Aligns With Uptrend Structure
The wallet added 3,263 ETH at the top of the current range, pointing to a strategy of scaling in across different levels. Price action supports continued strength. The wide gap between ETH’s market price and the EMA signals sustained momentum.
This address stands out for its size and timing, often buying during consolidation phases. The steady inflow has drawn attention as Ethereum’s broader market sees growing institutional participation. While the wallet’s owner remains unconfirmed, analysts associate it with Cumberland due to the volume and structure of its activity.
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