The price of Ethereum is currently maintaining below 4,000 USD, but the accumulation demand from organizations and whales is increasing significantly, creating positive signals for the future.
The fact that publicly listed companies own nearly 3 billion USD worth of ETH gives Ethereum the largest treasury in cryptocurrency. This accumulation trend, along with technical factors, signals the potential for a breakout in the near future.
MAIN CONTENT
Whales and organizations are actively purchasing ETH, creating significant upward pressure.
Historical patterns and Bitcoin's halving cycle predict the possibility of ETH breaking through to 5,600 USD.
The risk of 'front-running demand' could reduce new demand when ETH reaches around 5,000-7,000 USD.
Which companies are accumulating the most ETH and why?
Public companies currently own nearly 3 billion USD worth of ETH, becoming the largest ETH treasury in the world and ranking third in total cryptocurrency treasuries.
Notably, Tom Lee's BitMine Immersion Technologies aims to hold 5% of Ethereum's supply. This company currently holds 833,137 ETH, worth over 3 billion USD, demonstrating strong confidence in Ethereum's long-term value.
Are whales and organizations continuing to accumulate ETH?
Whales and organizations are still actively buying ETH. Specifically, three new wallets have just purchased 63,837 ETH worth 236 million USD through FalconX and Galaxy Digital OTC.
From July 9 until now, 14 wallets have accumulated a total of 856,554 ETH, equivalent to 3.16 billion USD. This occurs while ETH is still trading below its historical peak, leading many analysts to view this as a rare long-term buying opportunity before a potential breakout.
"The accumulation of ETH is accelerating, marking strong confidence from large investors in its long-term potential."
Tom Lee, Founder of BitMine Immersion Technologies, 2024
Does historical pattern support a breakout for Ethereum?
Ethereum has continuously been rejected around the price range of 3,800-3,900 USD but is strongly supported at lower levels.
History shows that every time ETH surpasses this resistance threshold, it leads to a strong price increase. Based on past cycles, ETH could reach 5,600 USD by November. Notably, the year following Bitcoin's halving typically sees ETH grow an average of 64% in August.
2024 is considered even more promising due to unprecedented organizational demand and tight supply, forecasting a stronger price rally.
What is the price forecast for Ethereum by September 2025?
Ethereum is expected to have a strong rally at the end of the year, following the traditional adjustment in August, gaining momentum from September to November.
The increase in liquidity, stemming from large financial deficits and global money supply growth, makes cryptocurrencies attractive as a hedge against monetary inflation.
However, expert Benjamin Cowan warns that the phenomenon of 'front-running demand' when organizations make large purchases may result in a lack of new buyers after ETH hits 5,000-7,000 USD, leading to a market cool-off before a downward trend into 2026.
"The current surge in demand may leave the market lacking new momentum, leading to a significant correction after ETH rises to high levels."
Benjamin Cowan, Cryptocurrency Market Analyst, 2024
What is the current market setup for ETH?
Ethereum is currently holding above 3,600 USD, bouncing back from 3,369 USD. The rising resistance level is at 3,620 USD, with major resistance at 3,750 and 3,800 USD.
Breaking the 3,800 USD level could pave the way for ETH to reach 3,880 or 4,000 USD. Conversely, losing the 3,600 USD mark could lead to a price drop to 3,500 USD.
Frequently Asked Questions
How are organizations accumulating Ethereum?
Nearly 3 billion USD worth of ETH is currently owned by publicly listed companies, representing the largest ETH treasury, reflecting strong confidence in this currency.
Why do whales continue to buy ETH despite the price not rising significantly?
Large investors see this as a long-term buying opportunity as ETH's price is still low compared to its potential breakout based on history and organizational demand.
What price is ETH expected to reach by the end of 2024?
According to analysis, ETH could reach 5,600 USD in November if it surpasses key resistance levels and maintains a bullish trend.
What are the main risks when ETH experiences a sudden price increase?
The phenomenon of 'front-running demand' due to large fund and organization purchases may lead to a shortage of new buyers, weakening the upward momentum and creating downward price pressure in the long term.
How will the price of ETH react if it loses the 3,600 USD support level?
If 3,600 USD is not maintained, ETH could drop to the 3,500 USD range, signaling the potential for a short-term correction.
Source: https://tintucbitcoin.com/ethereum-du-bao-tang-den-5-600-usd/
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