🚀 Ethereum Rockets 7% Past $4,600—ATH in Sight as Bulls Charge

Ethereum just ripped through another resistance level—flipping $4,600 into confetti as it barrels toward its all-time high. Traders are scrambling, shorts are sweating, and that ‘number go up’ energy is back with a vengeance.

### The Fuel Behind the Pump

No fluke here. The surge comes amid a perfect storm of institutional interest, DeFi TVL reclaiming 2021 vibes, and Layer 2 adoption hitting escape velocity. Even the SEC’s usual ‘how do you do, fellow kids’ regulatory vibes can’t kill the momentum.

### The Cynic’s Corner

Wall Street analysts—busy downgrading ETH after it moons—are now revising price targets upward (shocking). Meanwhile, crypto Twitter’s ‘I told you so’ tweets hit critical mass. Pro tip: next time, maybe don’t bet against the chain that prints billion-dollar dApps before your morning coffee.

What’s next? A retest of $5K looks inevitable unless BlackRock suddenly remembers it ‘doesn’t understand crypto.’ Buckle up.

Bitmine, SharpLink, Ether Machine Lead ETH Holdings Surge

The largest holder, Bitmine Immersion Tech, controls 1.2m ETH valued at $5.27b, representing nearly 1% of the total Ether supply. Its ETH position jumped more than 600% over the last 30 days.

SharpLink Gaming follows with 598,800 ETH, worth $2.74b, up 177% in the same period. The Ether Machine ranks third, holding 345,400 ETH valued at $1.58b, with an 8% increase in the past month.

$ETH is outperforming $BTC by 4.4%.

Are we entering altseason? pic.twitter.com/XZjaRWy7Qf

The ethereum Foundation, the non-profit steward of the network, holds 232,600 ETH worth about $1.07b, although its position has dipped slightly. Other significant holders include PulseChain Sac, Coinbase and Bit Digital.

July Sees Sharpest-Ever Jump in Ethereum Treasury Holdings

Interest from these treasury-focused entities has been building for months. In July, corporate Ethereum balances posted their largest monthly gain on record, according to Binance Research. Holdings rose about 127% to more than 2.7m ETH, worth roughly $11.6b at the time.

SΞR: 14 ETH Treasuries now hold a combined $2.5M ETH ($11.25 billions), about 2.08% of the total ETH supply. pic.twitter.com/vnAl2lmukl

Such aggressive accumulation adds to the bullish momentum that has pushed Ether to its highest levels in nearly three years.

Analysts point to the growing appeal of Ethereum’s ecosystem, from its role in decentralized finance to tokenization initiatives, as a driver of demand from both traditional finance players and crypto-native firms.

The strong showing for Ether comes as Bitcoin remains steady. The largest cryptocurrency traded around $119,331 on Wednesday, unchanged on the day but up nearly 5% over the past week.

The overall crypto market was firmer, with total capitalization rising 1.8% to $4.1 trillion. Market watchers say continued inflows from institutions and on-chain activity are likely to determine whether Ether can close the gap to its all-time high in the coming days.