Ethereum (ETH) is experiencing a strong resurgence, with over 90% of its holders currently in profit after the token surged to $3,800 — its highest price since December 2024. This data comes from analytics firm Sentora (formerly IntoTheBlock), which highlights the growing bullish momentum in the market.
Minimal Resistance, Maximum Optimism
Data shows that only a small portion of addresses purchased ETH above its current level, indicating very low on-chain resistance above $3,800. This opens the door for further upward movement.
ETH has surged more than 120% in the past three months, jumping from around $1,800 to $3,800. This rapid growth has silenced the bearish sentiment that dominated the Ethereum community earlier this year, replacing it with hopes of reaching a new all-time high.
Although ETH saw a minor price correction today—dropping less than 1%—analysts interpret this as a natural pause in a bullish trend. According to Sentora, the first major resistance lies just below $4,000, where approximately 2.39 million addresses are still holding ETH at a loss.
Institutions and Retail Investors Drive Surging Demand
The rising price of ETH has sparked a wave of new demand from both institutional and retail investors. Over the past few months, several publicly traded companies have added billions of dollars worth of ETH to their treasuries.
Retail interest is also on the rise. Santiment data shows that social media discussions about Ethereum have returned to levels last seen during its May 2024 rally. Ethereum now boasts over 152 million active wallets, more than any other crypto asset.
Data from Glassnode further reveals that the supply of ETH held by first-time buyers has increased by 16% since early July, signaling a return of new market participants and an influx of fresh capital.
Altcoin Season Heats Up, But Hasn’t Peaked Yet
Ethereum’s impressive performance has also breathed life into the altcoin market. In the past 24 hours, several top altcoins have seen sharp gains:
🔹 Solana up 7.74%
🔹 Dogecoin up 6.70%
🔹 PENGU up 16%
🔹 HEX up 20%
🔹 PLSX up 12%
🔹 KAS up 15%
Analysts see this as a reallocation phase following Bitcoin’s recent stagnation. BTC has dropped more than 2% over the past seven days and is currently trading around $118,000. On-chain indicators point to slower capital inflows and rising transfer volumes.
Bitcoin’s dominance has now dropped to 59.67%, its lowest point since March 2025. In contrast, Ethereum’s market share has climbed to 11.58%, the highest since January 2025.
Is the Altcoin Season Officially Here?
According to CoinMarketCap’s Altcoin Season Index, the current score stands at 55/100, meaning 56% of the top 100 tokens have outperformed Bitcoin over the past 90 days. A score of 75/100 would mark the true beginning of an altcoin season.
Still, the signs are strong. CryptoQuant reports that the daily trading volume for altcoins on Binance Futures surged to $100.7 billion, the highest level since February 2025.
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