Ethereum has seen strong whale accumulation, and on-chain data shows 3.45 million ETH concentrated in the $2,513–$2,536 range.
Ethereum ETH $2 559 24h volatility: 0.3% Market cap: $308.90 B Vol. 24h: $16.38 B price is once again showing strength with over 3% upside in the last 24 hours, moving past $2,600 with heavy whale accumulation. The recent upside comes on the backdrop of strong institutional demand, SharpLink Gaming’s ETH treasury plans, and strong ETF inflows. Amid the ongoing developments, market analysts remain bullish on ETH, with potential price targets of $4,000.
Ethereum Price Forms Strong Base at $2,500
Crypto analyst Rekt Capital noted that Ethereum (ETH) has successfully secured a weekly close above the crucial ~$2,500 level. Following the close, ETH has already retested this level as support, reinforcing its strength as a potential launchpad for further gains.
Ethereum has successfully Weekly Closed above the ~$2500 level and has already retested it into support this week
Continued stability here should see ~$2500 act as a base from which Ethereum will be able to springboard to the upside#ETH #Crypto #Ethereum https://t.co/0UfsI4i0O8 pic.twitter.com/7DzYl8gnCo
— Rekt Capital (@rektcapital) July 8, 2025
Following a long consolidation at these levels, market analysts are gearing up for the next leg of ETH price rally. On-chain data further reveals that there’s a heavy accumulation of ETH above $2,500, which makes it a strong support and reduces the possibility of further downside.
Blockchain analytics firm Glassnode cites the recent cost basis data with the Distribution Heatmap showing that approximately 3.45 million ETH have a cost basis between $2,513 and $2,536. This makes it one of the strongest accumulation zones in recent months.
This concentrated accumulation reinforces the $2.5K level as a key support area, with traders and long-term holders likely to defend the range amid any potential downside pressure.
#ETH’s Cost Basis Distribution Heatmap shows ~$2.5K as one of the strongest accumulation zones in months. Over 3.45M $ETH has a cost basis in the $2,513–$2,536 range, reinforcing this level as a major support zone. pic.twitter.com/sA8eSTpfCX
— glassnode (@glassnode) July 8, 2025
Institutional Accumulation of ETH on the Rise
The institutional accumulation for ETH has been on the rise, with several corporate players rushing to build their own ETH Treasury. SharpLink Gaming, the largest corporate holder of ETH, purchased an additional 7,689 ETH at an average price of $2,501, for an investment value of $19.2 million. With this latest buy, SharpLink’s total Ethereum holdings have reached 205,634 ETH, solidifying its position as the largest publicly traded holder of Ethereum.
Nasdaq-listed GameSquare announced its $100 million Ethereum treasury strategy on July 8, signaling a major push into digital assets. To support this initiative, the company launched an underwritten public offering of 8,421,054 common shares at a price of $0.95 per share. The offering is expected to generate approximately $8 million in gross proceeds before fees and expenses.
Similarly, spot Ethereum ETFs have now posted eight straight weeks of net inflows, adding more than 61,000 ETH during the period. In parallel, Nasdaq-listed Bit Digital has ramped up its Ethereum accumulation, purchasing $200 million worth of ETH and bringing its total holdings to $254.8 million.
#Ethereum Spot ETFs have now seen 8 straight weeks of inflows, with net additions over 61,000 $ETH.
At the same time, Bit Digital has scooped up $200M in ETH; now holding $254.8M total.
Bullish momentum for $ETH is continuing. pic.twitter.com/GwyABEQHmv
— Lucky (@LLuciano_BTC) July 8, 2025
TOKEN6900 Challenges Solana
TOKEN6900 is one of the best crypto presales currently in the market, positioning itself as a strong alternative to traditional blockchain projects like Solana. Unlike tokens tied to GDP, liquidity, or legacy financial metrics, TOKEN6900 embraces a different ethos, one driven by irony, high-octane speculation, and a vibrant trader community determined to defy conventional rules.
Described by its creators as more than just a digital asset, TOKEN6900 is being framed as a movement poised to spark a new wave of disruption across the crypto ecosystem.
Presale momentum builds
- Current price: $0.006475
- Funds raised: $225,000
- Hard cap: $5 million
- End price: $0.007125
- Ticker: TOKEN6900
The presale accepts both crypto and credit card payments, aiming to maximize participation. TOKEN6900’s tokenomics emphasize rapid expansion, allocating 40% of its supply to marketing and 15% to core development, with the remaining spread across operations, liquidity, and ecosystem incentives.
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