Ethereum Rockets 10% Past $4,700 – ATH in Sight as Bulls Charge
Ethereum isn’t just climbing—it’s gunning for the record books. A blistering 10% surge smashes through the $4,700 barrier, leaving traders scrambling and skeptics muttering about 'irrational exuberance' (again).
The Run-Up:
No fluke—this rally’s got teeth. ETH’s momentum mirrors the 2021 bull run, but with fewer memecoins and more institutional whales lurking in the depths.
The Target:
That elusive all-time high isn’t just a line on a chart anymore. It’s a psychological battleground, and Ethereum’s army of devs, degens, and (let’s be honest) hedge funds dressed as degens are locked in.
The Kicker:
Watch the sidelines. Traditional finance bros are still 'waiting for regulation' while ETH flips entire industries. Your move, Wall Street.
Bitmine, SharpLink, Ether Machine Lead ETH Holdings Surge
BitMine, the largest holder, now 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.
