Ethereum Dominates Market: Sharp Rise in Dominance Driven by Whale Accumulation and ETF Inflows

The crypto market has witnessed another significant move. Ethereum (ETH) recorded a sharp increase in market dominance following massive accumulation by whales and strong support from financial institutions. Latest on-chain data confirms multi-billion-dollar buying flows, reinforcing ETH’s position as the leading asset after Bitcoin.

Whales Accumulate ETH: Billions of Dollars in Purchases

A report by CoinEdition (July 16) revealed that over US$800 million worth of ETH was purchased in just one week, including a major acquisition by SharpLink Gaming of 91,000 ETH (US$275 million). ETH briefly surged to US$3,137, approaching the upper limit of its rising wedge pattern. Furthermore, Coin World (July 21) reported that 681,103 ETH (US$2.57 billion) had been accumulated by 23 whales since July 1, signaling strong institutional confidence in Ethereum’s long-term prospects.

ETF Breaks Records: Inflows Soar 65%

According to CoinCentral, inflows into spot ETH ETFs in July reached US$3.28 billion, a 65% increase since the end of June. ETH prices climbed to US$3,745, approaching the psychological resistance level of US$4,000. Additional support came from ETH-focused companies. Reuters (July 18) reported that shares of BitMine Immersion Technologies surged after disclosing ownership of 300,000 ETH, coinciding with ETH hitting US$3,675.81—its highest level in six months.

Profit-Taking Emerges, But Selling Pressure Remains Limited

While accumulation continues to dominate, some profit-taking activity has been observed. Phemex (July 20) reported the sale of 79,000 ETH (US$250 million) by Trend Research and an additional 30,000 ETH (US$96 million) by another whale. One whale alone booked US$9.87 million in profit after selling 8,005 ETH following a 25% weekly surge. However, the market has so far absorbed these sell-offs without triggering a major correction.

Key Drivers and Emerging Risks

Supply Squeeze Due to Institutional Accumulation
Whales are draining ETH supply from exchanges, while ETF inflows—particularly from BlackRock—continue to strengthen the bullish trend. The potential integration of staking yields into ETFs could position ETH as a dividend-like asset.

Bullish Technical Indicators
ETH has broken the Wyckoff pattern and is testing the upper boundary of its rising wedge. However, an elevated RSI (80–84) signals the risk of a short-term pullback.

Potential Sell-Off
Sudden large-scale dumping worth hundreds of millions could spark extreme volatility within hours.

ETH Outlook: New Historical High or Consolidation Ahead?

Whale dominance increased 4% in the past week, while large Bitcoin holdings dropped by 1.8%, confirming a shift in market interest toward Ethereum. ETH surpassed US$3,800 on July 21–22—its highest level in seven months. Several analysts remain optimistic, suggesting that targets of US$5,000 to US$10,000 by year-end are no longer mere speculation.

Ethereum Leads the Market
Whale support, surging ETF inflows, and institutional capital flows are driving ETH dominance.

Risks Remain
Despite the strong uptrend, overbought RSI conditions and large-scale sell-offs could trigger short-term corrections.

Positive Outlook
If sentiment and ETF regulations remain favorable, ETH could set a new all-time high before the end of 2025, with a potential US$15,000 target still on the table.