Ethereum

Ethereum ETH Is Back Above $4,200, Traders Turn Bullish…

4 days ago
Bitcoin Ethereum News

This is the first time ETH has touched this level since December 16, 2024. Feeds are lighting up with #buying, #bought, #bullish, and #higher.

Bearish chatter like #selling, #sold, #bearish, or #lower is barely half as common. The mood is clearly tilted toward the bulls.

In the last few days, ETH has drawn in a rush of new wallets. First-time buyers are stepping in. Momentum buyers are adding size. Long-term holders are raising their cost basis. That combination signals a wave of fresh demand alongside renewed conviction from existing players.

The numbers back it up. According to on-chain data shared by @EmberCN, more than 1.035 million ETH — worth about $4.167 billion — has been scooped up since July 10. These buys came from multiple unknown whales or institutions using exchange and institutional trading platforms.

Price performance matches the flow. ETH has rallied from around $2,600 to $4,200 this month — a 45% gain. Most of the accumulation addresses are likely tied to institutions or U.S. public companies holding ETH on balance sheets (excluding known SBET addresses). The average buy price for the accumulated ETH is roughly $3,546.

Ethereum ETH Price Action

Market snapshot — per CoinMarketCap, ETH trades near $4,210 with a market cap above $500 billion. Daily trading volume is in the tens of billions. This is the kind of liquidity level where large players can still move size without blowing out spreads.

Institutional behavior changes the game. These are not fast-flippers chasing a meme pump. Deep pockets tend to hold through volatility. They also tend to buy more when price dips. That provides a layer of support the market hasn’t consistently had in recent months.

The bullish action is not limited to spot price. Ethereum’s DeFi ecosystem is roaring back. Total value locked (TVL) has surged past $300 billion — a milestone that reflects both higher asset prices and a flood of on-chain activity. Lending pools, staking contracts, and Layer-2 bridges are seeing fresh inflows.

This growth in TVL also signals expanding institutional participation in Ethereum-based finance. When the same wallets buying billions in ETH are also deploying capital into DeFi protocols, it reinforces the network’s role as a settlement layer for real yield and decentralized liquidity.

The setup right now:

  •  Sentiment is leaning heavily bullish. Social tags confirm it.
  •  On-chain accumulation by whales/institutions is significant.
  •  Price is climbing fast, but the bid looks sustainable given who’s buying.
  •  DeFi usage is surging in tandem with price action.

That doesn’t mean risk is gone. Moves from $2,600 to $4,000 in weeks can snap back. Traders watching this rally should track whale wallets closely. If these addresses start sending ETH back to exchanges, that’s a warning sign. If they keep pulling ETH off exchanges into cold storage, that’s continued bullish pressure.

For now, the flow is clear: ETH is in demand. Institutions are buying size. DeFi is growing. The market hasn’t looked this strong since late 2021.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/ethereum-eth-is-back-above-4200-traders-turn-bullish-altseason-activated/