Ethereum News Today: Institutional Buyers Accumulate $236M in ETH Amid Bullish Outlook

Three institutional wallets have collectively purchased 63,837 Ethereum (ETH) tokens, valued at approximately $236 million, through over-the-counter (OTC) desks to avoid market impact [1]. This activity is part of a broader accumulation pattern observed since July 9, during which 14 new wallets added 856,554 ETH, amounting to $3.16 billion in value [2]. One notable buyer, SharpLink Gaming, recently added 18,680 ETH ($66.63 million) to its holdings, bringing its total to 498,711 ETH, or $1.81 billion [3]. Institutional investors continue to rely on financial service providers like Galaxy Digital and FalconX for large-scale cryptocurrency transactions [4].

Whale activity monitoring indicates that significant buying has persisted over the past several days. Tokens are increasingly being moved into storage, which may lead to temporary supply shortages [5]. Analysts highlight that new wallet activity represents fresh capital entering the market, rather than existing holders reallocating their holdings [6].

Historical data suggests that Ethereum has historically shown strong performance in August following Bitcoin halving events. On average, the asset has returned 64.2% during this period [7]. Analyst Alek points to this trend as a potential indicator that Ethereum could reach $5,000 if the historical pattern repeats [8]. Meanwhile, Ted views ETH trading below $4,000 as a strong buying opportunity for investors, given the current institutional buying and supply dynamics [9]. Analyst Lau has noted a 5% price increase, breaking a downward trendline, and suggests that Ethereum could retest recent highs before moving higher, potentially toward $10,000 [10]. Merlijn The Trader draws a parallel between the current cycle and the 2016–2017 bull run, citing 10x gains for early ETH holders during that period [11].

The current cycle is supported by higher liquidity, increased adoption, and stronger institutional participation compared to previous bull markets [12]. BitBull, another analyst, notes that Ethereum has seen 160% gains since the April low and expects a potential price range of $4,300 to $4,500 during Q3, with all-time highs becoming achievable in Q4 [13]. The market remains in a consolidation phase, which typically lasts 1–2 months before the next significant upward move [14].

With Ethereum currently trading around $3,600, a shift toward a bullish trend would be necessary for ETH to surpass $4,000 [15]. Institutional buying, historical seasonal trends, and technical analysis all contribute to a growing optimism around Ethereum’s potential price movement in the coming months.

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[1] [3 New Wallets Scoop Up 63,837 ETH ($236M): Will Ethereum Hit $5,000 Soon?](https://coinmarketcap.com/community/articles/68927b4e224d8d2a95dd863f/)