 
 
Ethereum has soared past $4,300, an all-time high since late 2021, as momentum builds behind a long-awaited breakout. The move comes after Ethereum finally pushed above the symmetrical triangle that has been containing its price since 2021, as noted by Galaxy on X.
This comes as Bitcoin reclaims highs above $120,000, reinforcing the bullish tone across the crypto market. It also comes amid growing speculation that alt-season is underway, with total crypto market cap hitting $4.1T as posted on X by Lucie SHIB.
Notably, ETH’s move has sparked a wave of optimism across X. Ted pillows, a well-followed market commentator, stated on X (formerly Twitter), “I told you that $ETH is the fastest horse to bet on… $ETH is still trading 15% below its 2021 highs… $10K Ethereum is coming this cycle.” That remaining 15% gap from its previous all-time high has drawn attention, particularly as Bitcoin, gold, and the S&P 500 have already set new records this year.
Elsewhere on X, Ali highlighted, “Ethereum $ETH net capital change has just surpassed Bitcoin $BTC.” This means Ethereum is currently drawing in more new capital than Bitcoin, a clear sign that traders are beginning to favor altcoins.
Meanwhile, whale accumulation keeps gaining momentum. Since July 10, over 1.035 million ETH, worth roughly $4.17 billion, has been quietly absorbed by large wallets through exchanges and institutional platforms. Blockchain analyst Ember CN highlighted this data on X (formerly Twitter), who noted that most of these holdings are believed to be with institutions or U.S.-listed firms with ETH reserves, excluding known SBET addresses. The average purchase price is around $3,546, suggesting strong long-term conviction among these buyers.
 
Institutional inflows are adding another layer of demand. Spot Ethereum ETFs, including BlackRock’s iShares Ethereum Trust, have experienced monthly inflows increasing by more than 40 percent. These investors typically hold their positions for extended periods, which further tightens supply.
On-chain data from Glass node reveals that mega whale addresses, defined as those holding over 10,000 ETH, now control more than 41 million ETH. This is the highest level since the 2022 downturn. This supply-tightening effect is intensified by staking yields, which encourage holders to lock away their ETH rather than trade it.
In the meantime, speculation about Ethereum’s future price continues to heat up on X. Ted pillows shared, “$ETH stablecoin supply + $3,900,000,000 last week. Ethereum is going to $10,000,” highlighting strong liquidity fueling the rally. In another post, Ali stated, “$6,400 becomes a magnet if Ethereum $ETH breaks $4,000!” This signals important price points that traders are watching closely as Ethereum moves higher
At the time of writing, $ETH is trading at $4,507, reflecting a drop of 4.85% in the past 24 hours.
Source: https://zycrypto.com/ethereum-soars-to-highest-level-since-2021-as-whales-accumulate-4-17-billion-eth/