Kraken Observes Ethereum’s Bullish Momentum as Whales and Institutions Drive Surge

Ethereum's price rally has surpassed Bitcoin's recent all-time high, with ETH breaking through the $3,400 barrier and targeting $3,500. A 23% weekly gain has reignited altcoin season sentiment, shifting focus from Bitcoin's correction below $118,000 after peaking above $123,000. The global crypto market cap increased by 1.5% to $3.81 trillion, reflecting renewed investor confidence. Institutional accumulation remains strong, with notable activity from entities like Donald Trump's World Liberty Financial. This bullish trend underscores Ethereum's growing dominance in the crypto market, driven by whale activity and institutional interest, positioning it as a key asset to watch on platforms like Kraken.

Whales and Institutional Players Drive Ethereum's Bullish Surge

Ethereum's price rally has eclipsed Bitcoin's recent all-time high, with ETH breaking through the $3,400 barrier and eyeing $3,500. A 23% weekly gain has reignited altcoin season sentiment, diverting attention from Bitcoin's correction below $118,000 after peaking above $123,000. The global crypto market cap rose 1.5% to $3.81 trillion.

Institutional accumulation continues unabated. Donald Trump's World Liberty Financial now holds 70,505 ETH ($230 million) after its latest $10 million purchase, booking $7 million in unrealized gains. SharpLink Gaming absorbed 20,279 ETH ($68.38 million) in just five hours, part of a $343 million buying spree over eight days. An anonymous whale (0x35fb) added 7,980 ETH from Kraken, completing a $300 million acquisition streak.

Fartcoin Surges 18% Amid Speculation Over Crypto-Backed Mortgages

Fartcoin soared 18.99% to a monthly high of $1.4879, fueled by speculation around crypto-backed mortgages. Market capitalization jumped 18.8% to $1.47 billion, while trading volume surged 95% to $465 million, signaling strong capital inflow.

The rally followed reports of a congressional bill requiring lenders to consider crypto holdings for mortgage applications. Kraken's public endorsement of Fartcoin-backed home loans further ignited investor interest, driving accumulation to a three-week low netflow of -$2.3 million.

Technical indicators turned bullish, with RSI at 63 and CMF at 0.16. The next resistance level sits at $1.57, as derivatives activity and open interest climbed alongside the price spike.