Ethereum’s Dominance Grows as Whales Go on an $800M Buying Spree
2025-07-16 09:24:19
Main Idea
Ethereum's dominance in the crypto market is growing as whales and institutions accumulate over $800 million in ETH, driving its price to over $3,100 and reaching market-dominance levels not seen since 2020.
Key Points
1. Ethereum whales and institutions have accumulated over $800 million in ETH in a week-long buying spree, with SharpLink Gaming purchasing 91,000 ETH (~$275M) in seven days.
2. ETH price has risen to around $3,137, pressing against the upper resistance of a rising wedge formation, with indicators like RSI (76.67) showing overbought conditions.
3. Lookonchain reported significant ETH purchases by whales, including one address buying 68,141 ETH ($213.8M) in four days and another accumulating 80,312 ETH ($252M) in six days.
4. Ethereum's market dominance has exceeded 10% for the first time since March 2020, signaling strong institutional interest and a potential uptrend.
5. Technical indicators such as the MACD and Chaikin Money Flow (CMF at 0.22) suggest bullish momentum, with the BoP remaining slightly positive.
Description
On-chain data shows Ethereum whales are on a buying spree, accumulating over $800 million in ETH One institutional holder, SharpLink Gaming, has bought over 91,000 ETH (worth ~$275M) in just seven days This massive accumulation is fueling ETH’s price breakout and a historic shift in its market dominance A massive $800 million buying spree from just a handful of whale and institutional wallets has fueled Ethereum’s recent surge, which has pushed its price to over $3,100. This aggressive, week-lon...
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