The balance of ETH on exchanges has reached a historical low, as whales quietly move 'digital gold' into their own safes. "Hurry up! Ethereum is about to break $4,000!" This phrase flooded the WeChat groups of old crypto traders last night. Just yesterday, the ETH price firmly stood above $3,765, surging 27% in a week, with only a final push left to reach the $4,000 milestone.
Institutional big shots have become bloodthirsty. BlackRock's Ethereum ETF swept up $546.7 million in one day, and the entire ETF market's holdings surpassed $7.09 billion.
Even more exaggerated, a mysterious giant whale consumed 268 ETH in one day, worth $212 million, entering through compliant channels of Galaxy Digital and FalconX. This momentum is fiercer than a grandma grabbing gold!
Institutional buying frenzy, ETH becomes the 'new asset reserve king.'
The operations of public company SharpLink Gaming can be described as textbook hoarding. In the past month, they crazily increased their holdings by 157,140 ETH, worth nearly $493 million, directly becoming the largest corporate holder of Ethereum. In the last 24 hours, this company has spent another $17.45 million to buy 4,904 ETH, clearly aiming to 'buy more as prices rise.'
Even Bitcoin mining companies have switched sides. BitMine Immersion's holdings exceeded $1 billion, surpassing the Ethereum Foundation's $665 million holdings. BTC Digital is even bolder, announcing that it has converted all its Bitcoin reserves into ETH, which has caused quite a stir in the community.
"Institutions view ETH as digital oil!" Former Wall Street banker Vivek Raman revealed the secret: ETH consumes gas to drive transactions just like oil powers machinery, with an annual issuance locked at 1.5%, even the regulatory mechanism resembles oil production adjustments. This narrative directly elevates ETH into the top tier of 'corporate reserve assets.'
On-chain data reveals secrets, and the giant whales are stirring.
ETH on exchanges is mysteriously disappearing. Glassnode's on-chain data shows that since July, over 317,000 ETH (worth $1.18 billion) has been withdrawn from trading platforms. The number of holding addresses has soared to 152 million, a historical high.
What does this mean? A classic bullish structure is forming where demand far exceeds supply. When investors transfer tokens to cold wallets for long-term holding, it often signals a strong confidence in the long-term value of the asset.
Whales have even started to 'book the venue.' On July 20, two newly created institutional wallets swept up 58,268 ETH, worth about $212 million. On-chain analysts also captured another massive buy worth $50 million, with 13,462 ETH being withdrawn from Binance by a whale.
The regulatory wind is rising, and the U.S. cryptocurrency bill is breaking the ice.
Trump suddenly transforms into a 'cryptocurrency spokesperson.' The U.S. House of Representatives passed three key legislations: the GENIUS Act, the Clarity Act, and the Anti-Central Bank Digital Currency Act, which were signed into effect by Trump.
This marks the first time the cryptocurrency industry has gained bipartisan institutional recognition.
Even more explosive, the Financial Times reports that Trump is preparing an executive order to allow 401(k) retirement accounts to invest in cryptocurrencies. Once the traditional capital floodgates open, billions of dollars will pour in.
Regulatory easing has directly ignited the ETF powder keg. In the past five trading days, the net inflow of ETH spot ETFs reached $2.2 billion, more than doubling compared to the previous week. BlackRock's ETHA ETF scale surged to $9.17 billion, nearly accounting for half of the entire Ethereum ETF market.
Technical signals are charging forward; $4,000 is within reach.
Technical players can no longer contain their calculators. ETH has formed a 'golden cross' on the daily chart—50-day moving average crossing above the 200-day average, establishing a medium-term upward trend. The Relative Strength Index (RSI) shows a bowl-shaped structure, and similar historical patterns have triggered over 30% price increases.
What scares the bears the most is the arc bottom breakout. The price has broken through the two-month-long resistance at $2,855, and the reversal structure is fully formed. Analyst Michaël van de Poppe stated: "A pullback is a buying opportunity," aiming directly at $4,000.
But amidst the revelry lies smoke. In the past 24 hours, the entire network saw over $259 million in ETH contracts liquidated, with retail investors becoming 'fuel' under the double-kill pattern of long and short positions, greatly increasing risk. When the open interest of ETH futures contracts broke the historical high of $56 billion, the accumulation of leverage and high prices resonated, necessitating caution against a potential crash.
Coinbase has recently seen a rare Ethereum premium phenomenon, as U.S. institutional investors and high-net-worth individuals accelerate their allocation of Ethereum assets. The big shots have already acted: Peter Thiel quietly acquired a 9.1% stake in Tom Lee's ETH treasury company, and BlackRock's ETF continuously bought ETH for 29 out of the last 30 days before July.
Analyst Mikybull Crypto stated: "$7,000-$10,000 may be the peak of this cycle." As traditional financial giants like JPMorgan and Robinhood build their tokenization plans based on the Ethereum network, this charge towards $4,000 may just be the foundation stone for digital civilization's financial cornerstone.
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