Whale buying drives Ethereum past $4500, $7K rally possible
Ethereum has seen a remarkable resurgence, surpassing the $4,500 threshold following a 10% increase from its low point on September 5. Currently, Ethereum is valued at around $4,518, supported by renewed interest from whales and a surge in institutional demand. Analysts are optimistic about the potential for Ethereum to reach $7,000 in October if certain resistance levels are overcome.
Recent data from Arkham indicates that three large wallets acquired over $205 million worth of Ether through FalconX, suggesting an influx of institutional investments. This buying pressure has not only stabilized the current ETH price but has also led to a decrease in available supply on exchanges.
In addition to whale accumulation, there has been a notable increase in institutional interest in Ethereum. Corporate treasuries and funds now hold more than 6.5 million ETH, doubling since April 2025. Bitmine Immersion, for example, has expanded its holdings to over 2.1 million tokens after a significant $1.1 billion purchase.
SharpLink Gaming made waves by transferring $3.7 billion into its Ethereum treasury. Co-CEO Joseph Chalom described this move as a significant event for adoption, highlighting Ethereum’s role as a reserve asset. Similarly, large whale wallets containing between 10,000 and 100,000 ETH now collectively hold more than 20 million ETH, underscoring the substantial accumulation by major players.
Despite these massive transactions, Ethereum’s network fundamentals remain strong. Staking participation has reached a record high of 36.15 million ETH, signaling confidence in the network. On-chain activity, including transaction volume, smart contract calls, and active addresses, continues to grow, solidifying Ethereum’s position as a leading blockchain for DeFi and tokenization.
Tom Lee of Fundstrat sees a bright future for Ethereum, especially with the intersection of blockchain and artificial intelligence driving growth. Lee predicts that Ethereum could potentially reach $10,000 to $15,000 this year and $66,000 in the long term, citing adoption trends and structural demand as key drivers.
Technically, Ethereum faces key resistance levels around the $4,584–$4,672 range. Breaking through this zone could further propel Ethereum towards the $5,000 mark in the near future. Indicators like on-balance volume, Supertrend, and Parabolic SAR are already showing bullish signals, indicating a positive outlook for Ethereum.
Analysts and traders are optimistic about Ethereum’s potential, with some predicting a price range between $6,500 and $7,000 by the end of the year. With growing whale accumulation, institutional interest, and positive technical indicators, Ethereum seems poised for a significant bullish breakout in the coming months.
