Ethereum Faces Potential Correction After Failing to Sustain Above $3K

Ethereum's recent price rally above the $3,000 mark was short-lived, as the digital asset has now entered a consolidation phase near $2,940. The failure to maintain momentum follows a break below the critical bullish trend line at $2,980, indicating potential downward pressure toward the $2,900 support level. Market participants witnessed ETH's ascent from $2,800 to a peak of $3,081 before retracing 50% of its gains. The 100-hour moving average is currently acting as a key level to watch, as it could determine whether Ethereum stabilizes or continues its correction. This development raises questions about the near-term trajectory of ETH, with traders closely monitoring support levels and broader market trends for clues on the next move. As of July 15, 2025, the cryptocurrency market remains volatile, and Ethereum's ability to hold key levels will be crucial in determining its short-term direction.

Ethereum Price Fails to Hold Momentum Above $3K — Correction Ahead?

Ethereum's price rally above $3,000 proved short-lived as the digital asset now faces consolidation NEAR $2,940. The failure to sustain momentum follows a break below the critical bullish trend line at $2,980, signaling potential downward pressure toward the $2,900 support level.

Market participants observed ETH's ascent from $2,800 to a peak of $3,081 before retracing 50% of its gains. The 100-hour moving average currently provides tenuous support, while resistance looms at $2,980 and $3,040. A decisive breach of either level could determine the next directional move.

The ETH/USD pair's technical posture on Kraken's charts reflects broader cryptocurrency market dynamics, where Bitcoin's movements continue influencing altcoin trajectories. Traders now watch whether Ethereum can defend its higher support levels or succumb to profit-taking after its recent climb.

Corporate Treasuries Amass $1.6B in Ethereum Amid Institutional Buying Spree

Ethereum's rally has triggered a wave of institutional accumulation, with corporate treasuries purchasing over 545,000 ETH worth $1.6 billion in the past month. BitMine Immersion Technologies now holds 163,142 ETH ($480M), while SharpLink Gaming became the largest single holder with 255,000 ETH after three strategic acquisitions in July.

Fundstrat's Tom Lee draws parallels to MicroStrategy's Bitcoin strategy, suggesting entities controlling 5% of ETH supply could trigger a 'Wall Street put.' Consensys founder Joe Lubin humorously anointed himself leader of what he called 'The League of Extraordinary ETH Accumulator Gentlemen,' acknowledging the coordinated buying activity.

Analyst Predicts ETH Rally to $10K on Staking ETF Approval

Ethereum's next bull cycle could propel its price to $10,000, according to EMJ Capital's Eric Jackson. The catalyst? Not just spot ETF approvals, but institutional staking integration.

Current market sentiment underestimates the transformative potential of staking-enabled ETFs. Traditional finance inflows could surge as institutions gain access to 3.5% yields, creating a structural supply crunch in ETH's already deflationary ecosystem.

"This transforms ETH from digital oil to an institutional-grade yield product," Jackson noted. The network's revenue-generating capacity remains undervalued, with post-Merge tokenomics poised to accelerate price discovery.

Hackers Drain $2.5M from Arcadia Finance on Base Blockchain

Arcadia Finance, a decentralized finance platform operating on Base blockchain, suffered a $2.5 million exploit on Tuesday. Attackers manipulated a vulnerability in the platform's Rebalancer contract, executing unauthorized swaps that drained user vaults.

Blockchain security firm Hacken identified the flaw—arbitrary swapData parameters weren't properly validated, allowing rogue transactions. The stolen assets, including 2.3 million USDC and 227,000 USDS tokens, were swiftly converted to Wrapped ethereum and bridged to Ethereum mainnet.

The attack unfolded with precision. After funding operations via Tornado Cash, the hacker bridged to Base, deployed an attack contract, and drained multiple assets within minutes. Affected tokens included USDC, WETH, EURC, USDS, AERO, and WELL—later swapped for 199 WETH and 965.8 million AERO tokens.

Tornado Cash Founder Seeks $1.5M in Donations Ahead of Pivotal Trial

Tornado Cash co-founder Roman Storm is rallying the crypto community to fund his legal defense, citing a "critical shortfall" as his trial approaches. The privacy advocate aims to raise $1.5 million within weeks to counter escalating costs tied to expert witnesses and extended courtroom proceedings.

Storm's trial, initially slated for two weeks, now threatens to stretch to four due to unforeseen evidence and complex arguments. "We're defending code as free speech," he declared, framing the case as a watershed moment for software development rights. The U.S. Treasury's sanctions on Tornado Cash loom large over the proceedings.

SharpLink Emerges as Largest Corporate Ethereum Holder with $213M Purchase

U.S.-based technology company SharpLink has solidified its position as the largest corporate holder of Ethereum, acquiring 74,656 ETH in July for approximately $213 million. The purchases, executed between July 7 and July 13 at an average price of $2,852 per ETH, bring SharpLink's total holdings to 280,706 ETH—nearly all of which is staked for yield generation.

The MOVE underscores a broader institutional shift toward digital assets beyond Bitcoin, with Ethereum's staking rewards and DeFi applications attracting long-term commitments. SharpLink's staked ETH has already generated 415 ETH in rewards since June 2, though the company has not disclosed its staking service providers.