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Ethereum
Key Insights
- Whales and institutions were scooping up Ethereum rapidly, with an address accumulating $300M ETH from Galaxy Digital OTC in the past 3 days.
- When writing, the ETH/BTC pair has already bottomed, and the weekly MACD bullish cross has also taken place.
- Ethereum was among the top cryptos with the largest social awareness and sentiment.
Ethereum (ETH) price had so far outperformed Bitcoin (BTC) in the third quarter of 2025. This was fueled by the Ethereum ETF transactions that clocked in 20 days of inflows but came to a halt this Friday, August 1.
In the last 24 hours, Ethereum grew by 3.97%, trading at $3,515 at press time. The total market cap of the leading altcoin was $424 billion, but its trading volume was less than half of BTC’s $50B. Since the price started falling after hitting $3900, ETH enthusiasts have been accumulating in this dip.
Eric Trump was once again on top of their voices on “buying the dip”. It was after slamming those who criticized him for his last calls that saw more dumping in the Ethereum price.
Ethereum Accumulation on Steroids?
The data on accumulation from Merlijn The Trader showed that whales and institutions were neither stopping nor pausing. The current dip was considered a great discount, with a lot more signs showing that the altcoin season could be in the offing.
One wallet bought Ethereum valued at $300 million from Galaxy Digital’s OTC market in just three days. Surprisingly, these were days when the price of ETH had dropped since the run mentioned earlier.
Also, another whale purchased 3000 ETH, equivalent to $10.3 million in the same period. It indicated that the current downtrend may be short-lived.
More importantly, SharpLink Gaming was back again to acquire more ETH. The fund maintained its leading position among Ethereum treasuries after adding ETH worth $53.9 million in the last 24 hours. This took its tally to $108.57 million in just two days.
This dwarfed the amount by whale but was a third of what was bought Over The Counter. As a result, SharpLink’s wallet emerged among the most profitable wallets on the Ethereum network over the last 7 days.
SharpLink gained $2.48M while Arrington XRP Capital tanked over $770K. A couple of smart traders also filled the top 10 list, according to Nansen. It led to the question, what was fueling this acquisition despite the price dropping?
ETH/BTC Pair Bottoms
While the network activity on Ethereum crypto was skyrocketing, it could be attributed to the potential Altseason as depicted. The ETH/BTC chart signaled a bottom resembling 2017 and 2020. The two bottoms produced the two most profitable bullish altseasons in crypto.
However, looking at the pair, the price needed to reclaim the band and turn it into support for confirmation. For those who wanted to be early, the current position gives the desired entry, but with the risk of further drops.
To cast a bit of doubt, the weekly MACD saw a bullish crossover. It is a sign that now could be an opportune time to go long, as Eric Trump noted.
Also, a renowned analyst, Cas Abbé, was buying the ETH/BTC pair. In a post on X (formerly Twitter), the analysts wrote, “I’m irresponsibly long on $ETH in 2025.” This was not enough as sentiment also played a part.
Ethereum Social Awareness and Sentiment
According to Market Prophit, BTC, ETH, and Solana (SOL) led with social awareness and sentiment. Ethereum was second-place, maintaining its position in terms of popularity.
This further showed why Ethereum accumulation was not stopping. A mutual feeling among these participants on Ethereum could reignite the rally and spill the gains on ETH-based tokens.
However, traders should also cautiously watch the drops and rebalances to determine the best time for a reversal. Alternatively, the short-term correction could overstay if a full relapse to bullishness does not occur.
