Ethereum Tracks Coinbase, Eyes $4200 As 78% of Wallets Profit

Key Insights

• Ethereum price action mirrored Coinbase’s targets at $4,200 and beyond.
• About 78 % of ETH wallets were profitable while only 20% were experiencing losses.
• Ethereum was the only top-10 non-stablecoin asset with rising futures volume in the last 24 hours.

Ethereum is potentially seeing the uptrend miss when the broader crypto markets surged massively in the Q4 of 2025. The altcoin lagged behind but now surpassed $3,000, eyeing higher resistance close.

The ‘King of Altcoin’ is now leading others in this charge. With this, products built on the Ethereum blockchain could follow the mainnet token’s footsteps.

Some of the tokens in this category that are doing well are Uniswap (UNI), among others, while not forgetting memecoins. The recent entrant, SPX6900, led this charge by gains but trailed behind PEPE by market cap.

That said, will ETH mirror Coinbase’s stock performance?

Ethereum Price Action Aping Coinbase

Looking at the two charts analyzed by Ted Pillows, the Ethereum and Coinbase stocks showed similar price patterns. To begin with, COIN on the three-day chart was trading at $340 after breaking from the descending trendline resistance.

The surge came after a retest of the breakout at the $250 zone. On the other hand, ETH price action on a 2-day chart printed a similar structure.

The price of Ethereum was leaving the retest area and was starting to look similar to COIN. The surge could take the altcoin past $4,200. This was only limited if the structure adhered to the letter.

If everything is to repeat, a pause, pullback, or correction could be anticipated just above $3,500. This price level is similar to the $340 zone for COIN. This similarity suggests potential new highs for Ethereum beta plays, but remains to be confirmed.

Decoding Ethereum Holder Profitability

Still, Ethereum saw a massive shift in the profitability of the holders. This happened after the recent surge that took the price above $3,000. According to IntoTheBlock’s data, as reported by CryptoQuant Author, IT Tech, about 78% of the holders were in profit.

The analysis left only 20% in red while a modest 3% were at break-even. Additionally, the majority of ETH holders, 76%, had held their coins for more than one year. Only 3% had held for less than a month, with the remaining lot holding for about a year.

The distribution showed that most profits were from the same heads holding the longest periods. This spells confidence in the long-term outlook of Ethereum as profits brew more tolerance for gains than losses.

Alternatively, these traders could decide to take profits, thus causing a pause or reversal. However, caution ought to be warranted as financial markets are unpredictable.

Ethereum’s OI, Volume & Market Value

More analysis affirmed Ethereum’s potential to hit new highs. It aped the stock price of Coinbase, as supported by open interest (OI) and volume. A report by Glassnode on X indicated that ETH was the only non-stablecoin asset with rising futures volume.

The daily change in volume was 27% while the OI increased by 6%. Furthermore, funding rates stayed neutral, a sign of getting ready to load more ETH.

Putting all this together confirmed the 50% growth by market value since late June. At the time of press, the Ethereum network commanded more than 152M wallets that held cryptos. This made it the lead among coins with the most holders.

Winding up, a new ATH for both Ethereum and Coinbase could be achieved, but COIN would reach its target first. Meanwhile, Ethereum is also likely to make a similar move. However, risk management must be in place, especially when trading derivatives.