Key Notes
- Two wallets withdrew $745 million worth of ETH from exchanges.
- SharpLink added another $115 million in ETH, continues treasury build-up.
- Trump-backed World Liberty also increased its ETH holdings.
Ethereum
ETH
$3 608
24h volatility:
7.6%
Market cap:
$435.44 B
Vol. 24h:
$59.70 B
is leading the crypto market’s current rally, surpassing the major resistance at $3,600 earlier today, a price last seen around New Year. This comes as two newly created wallets have recently bought $745 million in total.
According to the data shared by Lookonchain, whale 0x35fb has withdrawn 103,274 ETH, worth around $373 million, from Kraken in the past nine days.
ETH just broke above $3600!
Recently, 2 newly created wallets have accumulated 206,415 $ETH($745M).
0x35fb has withdrawn 103,274 $ETH($372.8M) from #Kraken in the past 9 days.
0x9684 has withdrawn 103,141 $ETH($372.3M) from #FalconX in the past 7 days.https://t.co/5e6AQjMOwt… pic.twitter.com/pfyh7H1MXP
— Lookonchain (@lookonchain) July 18, 2025
Another wallet, 0x9684, is also consistently moving their holdings from FalconX, withdrawing over $372 million in ETH in the past week. Such large exchange exits generally signal self-custody and whale confidence in the long-term potential of ETH, which can turn out to be the best crypto to buy.
Corporate Treasuries Keep Exploring Ether
Meanwhile, ETH is also becoming a favourable asset in corporate treasuries. SharpLink Gaming purchased another 32,892 ETH, worth $115 million, on July 17. The latest purchase increased its total ETH accumulation to 144,501 ETH ($515 million) in just nine days.
SharpLink(@SharpLinkGaming) bought another 32,892 $ETH($115M) in the past 3 hours.
In the past 9 days, they’ve accumulated 144,501 $ETH($515M).https://t.co/LGh4xzpCWk pic.twitter.com/q29czF8qKz
— Lookonchain (@lookonchain) July 18, 2025
The Trump family-backed World Liberty also bought another $3 million worth of ETH, after purchasing $5 million worth the previous day. World Liberty now holds 70,143 ETH ($251 million) with over $23 million in unrealized gains.
Trump’s World Liberty(@worldlibertyfi) spent 3M $USDC to buy 861 $ETH again 3 hours ago!
World Liberty has bought a total of 70,143 $ETH($251M) at an average price of $3,249, with an unrealized profit of $23M+.https://t.co/kaRan1WMwFhttps://t.co/8Rr7IVTaxC pic.twitter.com/nsfbpgoRI1
— Lookonchain (@lookonchain) July 18, 2025
Meanwhile, Nasdaq-listed BTC Digital recently decided to convert all its current and future Bitcoin holdings into ETH. The move aligns with its growth strategy after raising $6 million in a fresh financing round.
This wave of institutional and whale accumulation has sent Ether to $3,622, up by 4% in the past 24 hours. Crypto trader CryptoJack noted on X that ETH is currently outperforming BTC, signaling the potential arrival of an altcoin season if the trend continues.
ALTSEASON IS COMING.
WE’RE ABOUT TO GET RICH! pic.twitter.com/dAuxFp68uQ
— CryptoJack (@cryptojack) July 18, 2025
ETH Price Shows Strong Momentum
On the daily chart, ETH is trading comfortably above the upper Bollinger Band at $3,523, reflecting strong bullish momentum. The bands show a widening spread, suggesting increasing volatility and potential for continued upward movement if volume sustains.
Traders should watch for $3,700 and $3,880 levels for immediate resistance.
ETH price chart with RSI and Bollinger Bands | Source: TradingView
The RSI is currently well above the overbought threshold, indicating the crypto is in heavily overbought territory. While this could signal a near-term pullback, sustained buying pressure may overtake the overbought conditions in the short term.
If ETH fails to hold above the $3,600 and falls below the immediate support of $3,520, it could enter a corrective phase toward $3,150.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
