Ethereum News Today: SharpLink, BitMine Aggressively Accumulate ETH as Ether Eyes $4,000 Target

Ether’s price trajectory has drawn renewed attention as corporate accumulation by SharpLink Gaming and BitMine Immersion Technologies intensifies speculation about a potential $4,000 target. Both firms, now among the largest public holders of Ethereum (ETH), have executed aggressive treasury strategies, with BitMine temporarily claiming a top spot at 300,657 ETH before being surpassed by SharpLink’s 360,807 ETH following recent purchases. The moves underscore growing institutional interest in Ethereum, though technical analysis suggests mixed near-term prospects.

BitMine, a publicly traded mining firm, recently launched options trading for its shares on the NYSE, a step it claims will enhance liquidity and investor confidence [1]. The company reiterated its goal to acquire 5% of the global Ethereum supply, leveraging geographic advantages in low-cost energy regions. SharpLink, meanwhile, has expanded its holdings through a $258.9 million acquisition in June, swelling its stash to over 500,000 ETH [2]. The company’s immediate staking of its newly acquired ETH highlights a strategic focus on yield generation, which could bolster Ethereum’s network security and long-term value.

Whale buying activity has surged to $2.6 billion in ETH over the past week, according to Yellow.com, further reinforcing institutional demand [3]. However, Ethereum’s price has faced resistance, dipping below the $3,745 support level and testing the 38.2% Fibonacci retracement at $3,494. A rebound from this level could signal renewed buyer demand, potentially pushing ETH toward $3,600. Conversely, a breakdown below $3,494 risks a descent to $3,381 and the 20-day exponential moving average ($3,234), where bears could gain short-term control [4].

Technical indicators show a balance between supply and demand on the 4-hour chart, with the relative strength index (RSI) dipping below the midpoint. For bulls to regain momentum, ETH must break above $3,860 to target $4,094. A breakdown below the 50-day simple moving average ($3,604) could trigger further declines to $3,477 and $3,361 [5]. Analysts caution that macroeconomic volatility and regulatory uncertainties remain headwinds, despite the bullish institutional backdrop.

The combined treasury strategies of SharpLink and BitMine align with broader trends in Ethereum’s institutional adoption. By reducing circulating supply and increasing staking demand, these firms could influence Ethereum’s price dynamics. However, the sustainability of this momentum will depend on future capital-raising initiatives and staking yield performance. While the $4,000 target appears ambitious, the current accumulation and technical setup provide a foundation for optimism—albeit with caution warranted given the asset’s inherent volatility.

Sources:

[1] BitMine Immersion Technologies, Inc. (BMNR) Announces Commencement of Options Trading on NYSE. [https://finviz.com/news/111930/bitmine-immersion-bmnr-announces-commencement-of-options-trading-on-nyse]

[2] Sherwin-Williams (SHW) Q2 2025 Earnings Transcript. [https://www.mitrade.com/au/insights/news/live-news/article-8-978382-20250723]

[3] Why Ethereum Is Surging: Expert Forecasts, Whale Buying. [https://yellow.com/research/why-ethereum-is-surging-expert-forecasts-whale-buying-and-the-future-of-eth-in-2025]

[4] ETH Rally To $4K Still Possible Despite Recent Sell-off. [https://cointelegraph.com/news/eth-news-update-can-sharplink-gaming-bitmine-treasuries-send-ether-to-dollar4k]

[5] Ether Eyes $4K as Institutions Stock Pile ETH. [https://www.msn.com/en-us/money/markets/ether-eyes-4k-as-institutions-stock-pile-eth/ar-AA1J2Mnp]