Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum is trading confidently above the $3,100 level after breaking through this key resistance with strength, signaling a potential shift in market dynamics. While Bitcoin experiences a short-term pullback from its all-time highs, Ethereum’s upward move highlights growing momentum across the altcoin sector. Bulls are increasingly optimistic, viewing this divergence as a sign that capital may be rotating into ETH and other high-conviction altcoins. Related Reading Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative 19 hours ago
Fueling this optimism is a combination of improving technicals and strengthening fundamentals. One of the most notable developments came today, as SharpLink Gaming—one of the first Nasdaq-listed companies to adopt an Ethereum-focused treasury strategy—purchased an additional $19,560,000 worth of ETH. SharpLink Gaming bought another $19,560,000 ETH | Source: Ted Pillows on X
The combination of strong price action, increasing corporate interest, and supportive on-chain metrics suggests that Ethereum could be leading the next leg of the altcoin rally, especially if Bitcoin continues to consolidate and investors shift focus to undervalued opportunities across the ecosystem. SharpLink Becomes Largest Corporate Holder Of Ethereum
SharpLink Gaming has officially become the largest corporate holder of Ethereum, with a total of 280,706 ETH now held in its treasury, valued at approximately $840 million at current market prices. The company’s aggressive accumulation strategy signals a new phase in institutional Ethereum adoption, reinforcing the growing perception of ETH as a long-term strategic asset.
Top analyst Ted Pillows confirmed SharpLink’s latest purchase using on-chain data, which shows that the ETH was acquired through a Coinbase Prime hot wallet—a platform commonly used by institutions for large-scale crypto transactions. According to a press release, SharpLink raised $413 million through the issuance of over 24 million new shares between July 7 and July 11, capital it promptly deployed into the crypto market. Sharplink becomes the Largest Public ETH holder | Source: Sharplink Gaming
In total, the firm acquired 74,656 ETH over the past week at an average price of $2,852 per coin. This aggressive buying spree not only reflects SharpLink’s treasury strategy but also highlights a broader trend among institutional players of turning to ETH as a core asset.
As traditional companies seek alternatives to cash and government bonds, Ethereum’s maturing ecosystem and growing staking participation make it an increasingly compelling option. SharpLink’s bold move may inspire other public firms to explore ETH as a reserve asset. Related Reading SharpLink Gaming Buys $73M in Ethereum – Smart Money Loads the Dip 16 hours ago ETH Weekly Chart Signals Trend Reversal
Ethereum is showing strong bullish momentum on the weekly chart. The price is currently trading at $3,155.21, up over 6% for the week. The breakout above the key resistance zone at $2,850 is now confirmed. Marking a significant shift in market structure after months of consolidation and bearish pressure. This move pushes ETH to its highest weekly close since early 2024. ETH breaking key resistance with momentum | Source: ETHUSDT Chart on TradingView
Technically, Ethereum has reclaimed all major moving averages: the 50-week SMA ($2,645), 100-week SMA ($2,659), and 200-week SMA ($2,427). This alignment supports a longer-term bullish reversal and confirms that momentum has shifted in favor of buyers. The clean break above the previous resistance adds strength to the move. And sets the stage for a potential rally toward the $3,600–$3,800 range in the coming weeks. Related Reading Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth 1 day ago
The reclaim of $2,850—a zone that had acted as strong resistance for months—now flips into support. If Ethereum continues to hold this level on a weekly closing basis, it will likely attract more institutional attention.
Featured image from Dall-E, chart from TradingView