Key Insights:
- Ethereum price eyes a rally as SharpLink bought 19,271 ETH, resuming accumulation after one month.
- Analysts said the purchase aligned with stronger on-chain fundamentals supporting the Ethereum price.
- Rising stablecoin activity and increasing total value locked (TVL) reflected broader network engagement.
In late October 2025, SharpLink Gaming made a notable return to accumulation by purchasing 19,271 ETH, valued at roughly $78 million, after a month of inactivity.
On-chain analysts said the move added weight to a fundamentals-driven recovery narrative, with renewed institutional flows and growing network activity influencing the Ethereum price outlook.
SharpLink Resume ETH Purchases
SharpLink Gaming bought about 19,271 ETH worth roughly $78 million after a month without major activity. The move appeared on-chain and was first shared by market trackers such as Lookonchain on X.
Analysts described it as a strong institutional signal in a market that had shown limited liquidity in recent weeks.
According to experts, such large wallet movements often suggest accumulation rather than distribution. Institutional entities like SharpLink usually build exposure during low volatility phases.
Market watchers compared this transaction to earlier Ethereum treasury inflows and noted that consistent buying from a regulated firm could affect market sentiment.
At the time of writing, ETH price was around $4,206, up 6.9% in 24 hours and about 4% higher on the week. Over the past month, it rose roughly 4.5%, while the all-time high stood near $4,953.
Why Institutional Flows Matter for Ethereum Price?
Observers said the SharpLink purchase reinforced the idea that institutional demand remained a key support for the Ethereum price.
Analysts viewed these flows as evidence of long-term confidence in the token’s role within decentralized finance (DeFi) and payment infrastructure.
Several researchers noted that large ETH buys often coincided with renewed discussions about network fundamentals. According to
Tom Lee on X, Ethereum appeared to be entering a “supercycle” where fundamentals guided valuation.
He highlighted rising stablecoin volumes and settlement activity as two indicators of organic demand across the network.
These dynamics suggested that Ethereum price grew increasingly from actual on-chain usage.
Stablecoins, which are tokens pegged to fiat currencies, accounted for a growing share of total transaction throughput.
Analysts said this trend signaled stronger real-world utility and liquidity within the Ethereum ecosystem.
BraVoCycles offered a more cautious perspective, warning that short-term corrections could still occur despite accumulation.
The firm noted that the current rally had produced stretched positioning among leveraged traders. Still, the underlying trend remained positive as long as institutional inflows continued.
Network Activity and Long-term Adoption Trends
Data shared by Token Terminal showed that Ethereum’s total value locked had increased even as new smart-contract deployments slowed. Analysts said this pattern reflected a maturing ecosystem. Fewer new projects entered the network, but existing ones retained larger and more stable deposits.
Token Terminal described Ethereum as “high-value finance” infrastructure, not merely an experimental platform.
The firm argued that new innovation at the Layer-1 level could still expand total value locked dramatically over time.
This combination of steady base activity and potential for renewed development was seen as supportive for the Ethereum price in the medium term.
Analysts said continued network growth depended on factors such as transaction fees, user activity, and developer incentives.
Lower costs and improved scalability through Layer-2 integrations could attract more on-chain applications, expanding usage and liquidity.
They also pointed to growing stablecoin transactions on Ethereum as a critical measure of adoption.
Each increase in stablecoin throughput indicated more active wallets and sustained user interaction with decentralized apps.
What to Watch Next for Ethereum Price Momentum?
Analysts focused on three main areas following SharpLink’s purchase. First, they tracked institutional ETH flows from wallets linked to major trading desks and corporate entities.
A continuation of these inflows would confirm that accumulation was still underway.
Second, analysts monitored network fundamentals, including active addresses, daily transactions, and TVL, to gauge whether user participation remained stable.
Persistent engagement was often a leading indicator for future value appreciation.
Third, attention turned to derivatives positioning. Funding rates, open interest, and spot-futures spreads helped determine whether the market leaned toward speculative leverage or organic demand.
Balanced positioning was viewed as healthy for longer-term stability in the Ethereum price.
Despite mixed short-term signals, most researchers said SharpLink’s renewed buying activity reflected structural confidence in Ethereum’s utility and growth potential.
If institutional participation expanded alongside fundamental metrics, they said, it could support a gradual move toward higher valuation ranges.
The next few weeks are expected to test this narrative. Sustained network throughput, steady inflows, and manageable volatility would be required to keep the Ethereum price on an upward trajectory.
Analysts agreed that the recent 19,271 ETH purchase represented one of the most notable corporate moves in the fourth quarter of 2025.