Ethereum is on fire, but this rally doesn't seem to stop anytime soon. After violating $3,600, the biggest Altcoin is then $3,700.
The ether is currently outperforming Bitcoin, sparking emotions for the official start of the alto season. Ethereum is listed in the top 30 global assets at a valuation of $416 billion. ETH prices have risen 20% over the past seven days as they witnessed BTC halt at $120,000 after destroying fresh ass.
Whale chases after Ethereum
On-chain data shows two mysterious whale wallets, 0x35FB and 0x9684, scooped up 206,415 ETH (worth $745 million) last week. 0x35FB withdraws 103,274 ETH (valued by $372.8 million) from Kraken over nine days, and 0x9684 subtracts 103,141 ETH (valued by $372.3 million) from Falconx. Movement appears to be for long-term positioning.
Meanwhile, Trump's Crypto Venture World Liberty Financial (WLF) continues to pile up. On Friday, he spent another $3 million in USDC to buy the 861 ETH. This brings the total distance to an average of $3,249 at 70,143 ETH ($251 million). That stash currently sits on a $23 million paper profit.
ETH has just exceeded $3600!
Recently, two newly created wallets have accumulated $206,415 in ETH ($745 million).
0x35FB has withdrawn its $103,274 ETH ($372.8m) from #Kraken in the last nine days.
0x9684 has withdrawn 103,141$ETH ($372.3M) from #FalConx in the last 7 days. https://t.co/5e6aqjmowt…pic.twitter.com/pfyh7h1mxp
– lookonchain (@lookonchain) July 18, 2025
The agency isn't too late as Bitmine has purchased 137,515 ETH (valued by $476 million) over the past three days. The purchase has boosted total ETH holdings to 300,657 ETH (valued by $1.04 billion). At the same time, gaming company Sharplink continues to make the fuss, buying another 32,892 ETH (valued by $115 million).
As whales have gone on for a long time with ETH, even on the downsizing side of the market, four high-lipid wallets have 25 times more leverage, resulting in longer ETH. Currently, I'm sitting at $25 million with unrealized profits.
Ethereum prices rose 4% in the last 24 hours and 125% in the last 90 days. 24-hour trading volume increased 10% to $57.7 billion. ETH trades at an average price of $3,614 at press time.
However, the largest institutional flex came from the Etherlink ETF, which reports an influx of $662 million. BlackRock's Etha ETF recorded its biggest net inflow of the day, $546 million on Thursday. BlackRock currently holds ETH worth $8.47 billion. To all publishers, ETH ETF has been raked up for $6.48 billion since its launch.
Crypto market blows up over $4 trillion
On-chain sentiment changed as dramatically as the net's unrealized profit/loss (NUPL) metrics that reversed their beliefs in Q2 2025, just weeks before ETH began this surge. However, the crypto industry has obtained valid regulatory clearance.
The US home has passed a suite of code-friendly bills. This includes the Stablecoins Genius Act and the Clarity Act for digital asset monitoring. Both are heading to President Trump's desk, where he is expected to sign, with strong bipartisan support.
For the first time, the overall market capitalization of crypto has exceeded $4 trillion. The 24-hour trading volume violated $2500 billion. Bitcoin still dominates with a 60.8% share and a $2.3 trillion cap.
