Ethereum News Today: Ethereum Surges 7% on Growing Institutional Adoption and Treasury Holdings

Ethereum (ETH) surged nearly 7% on Wednesday, reaching a price of $4,624, just 5.4% below its all-time high of $4,890 established in November 2021 [1]. The move reflects increasing institutional interest and continued adoption by corporate treasuries, which are actively accumulating Ether as part of strategic asset diversification [1]. Ethereum-focused treasuries now hold $16.4 billion worth of ETH, signaling growing confidence in the second-largest cryptocurrency by market capitalization [1].

Among the top holders, Bitmine Immersion Tech controls 1.2 million ETH, valued at $5.27 billion, representing nearly 1% of the total supply [1]. Its position has grown over 600% in the past 30 days, outpacing other major holders such as SharpLink Gaming and The Ether Machine [1]. SharpLink Gaming holds 598,800 ETH, valued at $2.74 billion, up 177% in the same period, while The Ether Machine’s holdings of 345,400 ETH have increased by 8% in a month [1]. The Ethereum Foundation, though not the largest holder, maintains a significant position of 232,600 ETH, valued at approximately $1.07 billion [1].

July marked the most significant monthly increase in Ethereum treasury holdings on record, according to Binance Research [1]. Corporate Ethereum balances rose by 127% to over 2.7 million ETH, valued at about $11.6 billion at the time, reinforcing bullish momentum across the market [1]. Analysts attribute this trend to Ethereum’s expanding ecosystem, including its role in decentralized finance (DeFi) and tokenization initiatives, which are attracting both traditional financial institutions and crypto-native firms [1].

Ethereum’s performance has outpaced Bitcoin by 4.4% in recent trading sessions [1]. While Bitcoin remains stable near $119,331, Ether’s rise has contributed to a broader crypto market rally, with total capitalization climbing 1.8% to $4.1 trillion [1]. Market participants are now closely monitoring on-chain activity and institutional inflows to assess whether Ethereum can close the remaining distance to its previous peak in the near term [1].

Source: [1] Ethereum Surges 7% to Break $4,600, Edges Closer to ATH (https://cryptonews.com/news/ethereum-price-4600-edges-closer-all-time-high/)