Quick overview

Live ETH/USD Chart

---

Ethereum is nearing the $4,000 mark for the first time since late 2024, driven by heightened interest from institutional investors and cryptocurrency whales. On July 20, the blockchain analytics company Lookonchain reported that two newly established wallets had acquired 58,268 ETH, valued at approximately $212 million. These purchases were made from Galaxy Digital and FalconX, with speculation that the wallets belong to institutional investors

The altcoin has successfully surpassed the critical $3,500 resistance level, signaling a robust bullish trend fueled by whale buying, ETF inflows, and strong technical momentum. As Ethereum ETFs attract significant amounts of capital, institutional interest continues to rise.

The inflows from BlackRock’s ETHA ETF are particularly noteworthy, contributing to record-high total assets under management.

Additionally, on-chain analyst EmberCN highlighted another significant Ethereum acquisition by a different whale. This transaction involved the purchase of 13,462 ETH, or approximately $50 million, from Binance at an average price of $3,714.

SharpLink, the largest corporate holder of Ethereum to date, has maintained its aggressive accumulation of ETH.  The company acquired an additional 4,904 ETH. This brings its total monthly acquisitions to 157,140 ETH, valued at nearly $493 million, with an average acquisition price of $3,136.