Coinbase Prime Sees Institutional Ethereum Accumulation Amid Bullish Breakout

Ethereum's recent surge past $2,850 has triggered significant market activity, with $206 million in exchange outflows indicating strong accumulation. The breakout is retesting a key resistance-turned-support zone, forming a classic bullish continuation pattern. On-chain data reveals a notable clash between institutional buyers and Leveraged shorts. Notably, Sharplink acquired 21,487 ETH ($64.26M) through OTC deals and Coinbase Prime, following a previous 10,000 ETH purchase from the Ethereum Foundation. This institutional activity, combined with whale movements, suggests growing confidence in Ethereum's upward trajectory despite some market divergence.

Ethereum's Bullish Breakout Faces Whale Divergence

Ethereum's surge past $2,850 triggered $206 million in exchange outflows, signaling strong accumulation. The breakout retests its resistance-turned-support zone, a classic bullish continuation pattern.

On-chain data reveals a clash between institutional buyers and leveraged shorts. Sharplink acquired 21,487 ETH ($64.26M) via OTC and Coinbase Prime, following a prior 10,000 ETH purchase from the ethereum Foundation. Meanwhile, three wallets opened 15x–25x leveraged short positions totaling 48,458 ETH ($143.37M) with just $10.5M collateral.

The market structure suggests long-term bullish momentum despite short-term volatility. Exchange netflows and whale activity indicate conviction in ETH's $4K trajectory, though high-leverage shorts may amplify near-term price swings.

Czech National Bank Expands Portfolio with Coinbase and Palantir Investments

The Czech National Bank has taken a significant step into the cryptocurrency market by acquiring shares of Coinbase during the second quarter. This move marks the institution's first direct exposure to digital assets, signaling growing institutional acceptance of crypto as a legitimate asset class.

Simultaneously, the central bank increased its stake in Palantir Technologies, demonstrating continued confidence in the data analytics firm. The dual investment strategy reflects a balanced approach to emerging technologies, pairing established tech holdings with new crypto exposure.