Ethereum may still be trading under $4,000, but behind the scenes, high-net-worth investors are steadily building their positions.
Institutional appetite for ETH is ramping up, with major firms and crypto whales scooping up billions in recent weeks.
BitMine Immersion Technologies has emerged as the largest corporate holder of ETH, owning over 833,000 coins—valued at more than $3 billion—and signaling intentions to secure up to 5% of the total supply. Other publicly listed firms have followed suit, driving Ethereum’s treasury footprint to the third-largest among all cryptocurrencies.
OTC activity has also spiked. Inflows tracked by Lookonchain show that just since July 9, over 850,000 ETH (worth $3.16 billion) has been moved into 14 new wallets, many linked to FalconX and Galaxy Digital.
Momentum Builds Beneath the Surface
While price action remains rangebound between $3,600 and $3,800, historical patterns suggest a breakout could be brewing. ETH tends to perform strongly in the months following Bitcoin halvings—especially in August, where it’s historically averaged double-digit gains.
Some analysts forecast a surge toward $5,600 by November, particularly if Ethereum clears resistance near $3,800. A rally above this zone could open the door to $4,000 and beyond. Technical support sits around $3,500, with a key trendline forming at $3,620.
Institutional Demand or Premature Peak?
Not everyone is sold on the bullish case. Critics warn that massive treasury accumulation may be pulling forward demand. As analyst Benjamin Cowan notes, the current buying frenzy could limit future upside once ETH enters the $5K–$7K range—potentially setting the stage for a market correction heading into 2026.
Even so, with macro liquidity expanding and crypto’s role as a hedge against monetary debasement growing, Ethereum remains a top watch for traders heading into the final months of the year.
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Source: https://coindoo.com/ethereum-whales-accumulate-quietly-is-a-major-eth-rally-coming/