Data shows that many public companies and large crypto investors are increasing their holdings in ETH, while on-chain activity is intensifying.
These factors provide a solid foundation for ETH's bullish momentum, with analysts setting short-term price targets of up to $7,000.
Positive data
The current phase reveals that several public companies have accumulated significant amounts of ETH in their treasuries. For example, BitMine announced that it is holding approximately 1,150,263 ETH (at around $4,311 per ETH).
Similarly, SharpLink (SBET) is reported as another major player in this space, holding around 521,939 ETH.
Additionally, an impressive transaction reported by OnchainLens showed that a large investor accumulated nearly 60,000 ETH across various platforms. Ethereum ETFs surpassed $1 billion in net inflows on August 11, with BlackRock's ETHA leading the movement, signaling institutional interest.
At the infrastructure level, on-chain data indicates that the amount of ETH locked for staking has reached an all-time high. Token Terminal recorded staking value exceeding $150 billion. At the same time, ETH reserves on exchanges have fallen to a historic low of around 18.9 million ETH, according to Axel_bitblaze69.
Together, these indicators reduce the available supply for sale and may catalyze price growth.
Tokenized assets are also heavily concentrated on Ethereum. Token Terminal reported that about 58% of publicly tokenized assets are on Ethereum, reinforcing the view that Ether directly benefits from capital inflows into RWAs and tokenization.
Short-term ETH price targets
Along with these positive on-chain indicators, ETH is also forming a promising technical pattern. Analyst Gert van Legen noted that ETH has completely broken above a Descending Broadening Wedge pattern on the weekly chart.
“Next target: all-time high at $4,860. Ready to strike,” stated an optimistic Gert van Legen.
1W ETH Chart. Source: Gert van Legen
Using Pricing Bands, analyst Ali also projected that Ethereum's next targets are $5,210 and $6,946. With ETH currently trading around $4,300, the price would need to rise between 14% and 63% to reach these targets.
Sharing a similar perspective with Ali, analyst VirtualBacon believes that ETH could reach between $6,000 and $7,000 this year. He highlighted that the price rise to $4,300 paved the way for much higher levels by the end of the year.
“If #Bitcoin advances to $150,000 and ETH/BTC rises to 0.044, $ETH could reach $6,000 – $7,000 this year. My conservative target? $6,600,” stated VirtualBacon.
From another optimistic perspective, analyst Crypto Patel also saw strong short-term upside potential for Ethereum, especially if it breaks above the $4,400 level.
The combination of strong demand in the spot market, active derivatives trading with high open interest and significant short positions, and reduced supply due to staking and exchange outflows creates ideal conditions for a sharp rally — potentially in a parabolic form.
However, Patel warns that selling pressure may arise if the price fails to break above $4,400 and instead reverses downward.
The article Whales and Companies Drive Ethereum Towards $7,000? was first seen on BeInCrypto Brazil.
