Ethereum News Today: Ethereum Surges Past $4000 as Whales Accumulate 1.8M Coins

Ethereum (ETH) has surged above $4,000 for the first time in months, driven by aggressive accumulation from large holders and favorable technical indicators. The rally reflects growing institutional confidence in the asset, with whale wallets holding between 10,000 and 100,000 ETH accumulating over 1.8 million coins in the past 30 days. This pattern of accumulation is historically associated with significant price moves and is seen as a bullish sign ahead of key upcoming events [3].

Large holders have been particularly active, with some acquiring ETH in multi-million-dollar transactions. For instance, one major buyer added $667 million worth of ETH in four days, while another added $85.46 million in a single move. These actions suggest that deep-pocket investors are positioning themselves for a prolonged bull phase, especially with Ethereum’s Fusaka upgrade on the horizon [3].

The price has shown resilience, having previously stalled just below the $4,000 level on July 28. After a pullback to $3,385, the asset regained strength and entered August with renewed momentum. As of August 8, ETH was trading near $3,900, setting the stage for a potential retest of the $4,000 mark. Analysts note that Ethereum has previously attempted to break through this level six times over the past 4.5 years, with mixed outcomes [3]. A successful breakout could trigger a move toward $5,000 or even $6,400, depending on the strength of follow-through buying and technical support [6].

Key technical indicators also support a bullish outlook. Ethereum’s RSI stands at 66.12, still below overbought territory, indicating that further upward movement is possible. Moving averages and MACD signals point to strong bullish momentum, while the 1-day technical analysis from TradingView shows a “strong buy” rating with consistent upward bias [3].

Institutional interest continues to rise, as evidenced by record levels of transaction volume and growing demand for Ethereum-based products. Moreover, Ethereum’s circulating supply has not seen a corresponding rise in exchange reserves, suggesting that current holders are not looking to sell but remain firmly bullish [5]. Analysts predict that if Ethereum sustains above $4,000, a push toward $4,400–$4,600 could occur within weeks, with the long-term target of $6,000–$6,400 appearing within reach if market conditions align with the upcoming Fusaka upgrade and any potential ETH staking ETF approvals [6].

The broader crypto market has also benefited from Ethereum’s rally, with many altcoins seeing renewed attention. However, analysts caution that investors should remain selective, as not all projects are backed by strong fundamentals.

The Fusaka upgrade, scheduled for November 2025, is expected to significantly enhance Ethereum’s scalability by increasing gas limits and introducing parallel EVM processing. These upgrades could improve transaction speeds and reduce fees, making the network more attractive to developers and institutional users [3]. In the past, major Ethereum upgrades have been followed by price rallies of 30–50%, and this trend may continue with Fusaka.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) is currently reviewing proposals from BlackRock and VanEck to launch ETH staking ETFs. If approved, these products could lock up a significant portion of the circulating ETH supply, creating a deflationary effect and potentially boosting prices. Analysts predict that such an approval could trigger a rapid retest of $4,800 in the short term [6].

Sources:

[1] Coindoo – https://coindoo.com/market/ethereum-latest-news-price-hits-4000-as-whales-accumulate/

[2] CryptoDnes.bg – https://cryptodnes.bg/en/ethereum-price-prediction-eth-closes-in-on-4k-will-it-hit-5k-this-august/

[3] TheCoinRepublic – https://www.thecoinrepublic.com/2025/08/08/ethereum-price-to-make-new-highs-this-week-whales-are-swarming-these-eth-tokens/

[4] Bitcoinist.com – https://bitcoinist.com/ethereum-price-nears-4000-amid-altcoin-rally-rising/

[5] BeInCrypto – https://beincrypto.com/altcoins-declining-exchange-reserves-august/

[6] Watcher – https://watcher.guru/news/ethereum-inches-closer-to-4000-rallies-50-in-1-month

[7] U.Today – https://u.today/ethereum-eth-on-verge-of-4000-only-one-retrace-left-top-analyst