Coinbase Hacker Is Betting on Ethereum – ETH Breakout?

Core Insights - The hacker associated with the Coinbase attack has recently purchased 3,976 Ethereum (ETH) for over $18.9 million, acquiring the tokens at a price of $4,756 each [1][2] - The hacker's wallet has been under surveillance since the beginning of the year due to its involvement in a social engineering scam that defrauded Coinbase users of over $330 million [3][4] - Ethereum's market cap has recovered to $569.59 billion, with a 24-hour trading volume of $41.6 billion, indicating strong trader enthusiasm [7] Ethereum Purchases by the Hacker - The hacker consolidated various amounts of DAI, ranging from $80,000 to $6 million, before making the recent ETH purchase [2] - Prior to this acquisition, the hacker's wallet had purchased 4,863 ETH for approximately $12.55 million and another 649 ETH for $2.3 million [5] Market Performance - Ethereum has recently seen a price rally, trading at $4,718.92 with a 4.26% increase in the last 24 hours, reaching a local high of around $4,763 [6] - Institutional investors have shown increased interest in Ethereum, with BitMine Immersion Technologies purchasing 46,255 ETH for $200 million, accumulating over 2.1 million ETH in total [8]