Ethereum has been attracting attention from institutional investors and crypto whales, pushing prices to the $4,000 mark for the first time since late 2024.
On July 20th, Blockchain Analytics company LookonChain reported that two newly created wallets purchased 58,268 ETH, worth around $212 million. The wallet, suspected to belong to institutional investors and whales, has acquired assets from Galaxy Digital and Falconx.
Ethereum will win a market capitalization of $450 billion as institutional bets intensify
Analyst on the chain, Embercn was added to the story by highlighting another important Ethereum purchase, including another whale. The transaction included 13,462 ETH (approximately $50 million).
Purchased Ethereum whale ETH. Source: x/embercn
Meanwhile, purchasing pressure doesn’t come from anonymous whales alone. The corporate sector also contributes to this accumulation trend by drawing weight in the market.
Currently, Ethereum’s largest corporate holder, Sharplink continues to have an aggressive ETH accumulation this month.
In the past day, the company added 4,904 ETH. This was worth around $17.45 million. This brings the monthly total of 157,140 ETH, with an average acquisition price of $3,136 worth nearly $493 million.
Beyond direct purchases, Ethereum is also seeing a record inflow into spot exchange trading funds (ETFs).
In the last five trading sessions, ETH Spot ETF has raised $2.2 billion. That’s more than twice the billion dollars a week ago.
Spot the weekly flow of Ethereum ETFS. Source: SOSO value
“It’s a record week in a row. Four of the top five days of influx since it was launched over the last two weeks,” ETF expert Nate Gelach pointed out.
This momentum suggests increased confidence among investors that Ethereum is suitable for future growth.
In particular, the role of networks in the power supply of Stablecoins, distributed finance (DEFI), and tokenized assets continues to attract attention from traditional financial institutions, including BlackRock.
Given this bullish momentum, Maelstrom’s CIO Arthur Hayes suggested that Ethereum could quickly break the $4,000 threshold. His outlook supports a broader market forecast that projects the possibility of heading towards $10,000 by the end of the year.
As of press time, digital assets are trading at a six-month high of 3,710, the highest level since December 2024. Meanwhile, the price rallies have grown ETH’s market capitalization by over $450 billion, making it the 25th most valuable asset in the world.
