Ethereum has surged above the $3,000 price barrier following substantial accumulation activity from whales and institutional investors, coupled with growing anticipation for the upcoming zkEVM technical upgrade. This rally reflects robust market confidence in Ethereum’s long-term growth trajectory.
Investors acquired over 128,000 ETH worth $358 million during the accumulation phase, with SharpLink Gaming emerging as a major institutional holder by disclosing reserves exceeding 205,000 ETH ($575 million). The firm announced plans to stake its holdings, aligning with Ethereum’s decentralization goals while signaling a broader shift toward long-term holding strategies as evidenced by whales withdrawing significant ETH volumes from exchanges.
The Ethereum Foundation confirmed imminent integration of zkEVM technology, designed to significantly enhance network scalability without compromising security or decentralization. This upgrade – spotlighted as a catalyst for the price surge – aims to optimize transaction throughput while maintaining network integrity. Market analysts observe that whale movements, institutional commitments like SharpLink’s staking strategy, and fundamental technological advancements collectively position Ethereum for sustained ecosystem expansion.