Ethereum Hits $4,000: Whales and ETFs Lead the Surge
Ethereum is attracting significant attention from institutional investors and cryptocurrency whales, driving its price closer to the $4,000 mark for the first time since late 2024.
1. Whales And ETFs Pour Billions Into Ethereum
On July 20, blockchain analytics firm Lookonchain reported that two newly created wallets had purchased a total of 58,268 ETH, worth approximately $212 million. These wallets, believed to belong to institutional investors or whales, made the purchase from Galaxy Digital and FalconX.
Ethereum Whales ETH Purchase. Source: X/EmberCN
2. Ethereum Market Capitalization Soars
Ethereum reached a market capitalization of $450 billion, fueled by increasing institutional investments. On-chain analyst EmberCN also highlighted another significant purchase, in which a whale bought 13,462 ETH, worth around $50 million, from Binance at an average price of $3,714.
3. SharpLink And The Ethereum Accumulation Trend
SharpLink, the company now holding the largest amount of Ethereum, continues to aggressively accumulate ETH this month. Over the past 24 hours, the company purchased an additional 4,904 ETH, valued at approximately $17.45 million, bringing their total ETH holdings for the month to 157,140 ETH, worth nearly $493 million.
4. Ethereum Spot ETFs See Record Inflows
Ethereum is witnessing not only whale activity but also a record influx of capital into spot exchange-traded funds (ETFs). In the past five trading sessions, Ethereum spot ETFs attracted $2.2 billion, double the $1 billion added the previous week.
Nate Geraci, an ETF expert, noted, “Consecutive record weeks. 4 out of 5 days saw the highest inflows since launch in the past two weeks.”
Spot Ethereum ETFs Weekly Flows. Source: SoSo Value
5. The Future Growth Of Ethereum
With this momentum, investors are increasingly confident that Ethereum is well-positioned for significant future growth. The Ethereum network, especially in supporting stablecoins, decentralized finance (DeFi), and crypto assets, continues to capture the attention of traditional financial institutions, including BlackRock.
Arthur Hayes, CIO of Maelstrom, suggested that Ethereum could soon surpass $4,000 and might even reach $10,000 by the end of the year.
6. Current Ethereum Price And Growth Prospects
As of the time of writing, Ethereum is trading at $3,710, the highest price in six months, since December 2024. This price surge has pushed Ethereum’s market capitalization above $450 billion, making it the 25th most valuable asset globally.