16.06.2025
Artem Shendetskii
News Author and Editor
16.06.2025

Why is Ethereum up today?

Why is Ethereum up today? Ethereum surges 4.5% as whales accumulate $3.8B in ETH

​Ethereum has posted a strong rebound, climbing 4.51% in the last 24 hours to trade at $2,630, with its market capitalization rising to $317.42 billion. 

Daily trading volumes have also surged to $18.65 billion, underscoring renewed market interest. A significant driver of this rally is the aggressive accumulation by whale wallets, which have acquired over 1.49 million ETH — valued at $3.79 billion — in the past month. These wallets now collectively control nearly 27% of Ethereum’s total supply, signaling strong institutional conviction.

Key catalysts: ETFs, tokenization, and ‘Pectra’

According to crypto analyst Anton Kharitonov, Ethereum’s bullish momentum is underpinned by several macro and technical factors. Notably, over $1.37 billion in inflows into spot Ether ETFs have amplified institutional exposure to ETH, providing new avenues for capital inflow. 

Kharitonov says: 

“Ethereum is confirming my optimistic forecasts. I expect the bullish trend to continue and the price to exceed $3,000 by the end of the month.”

Kharitonov also points to the recent ‘Pectra’ upgrade, which enhanced network efficiency and scalability, positioning Ethereum as a dominant platform for stablecoins and real-world asset tokenization — two sectors seeing rapid growth.

Technical outlook and market sentiment

Technically, Ethereum is showing signs of sustained upside. Kharitonov cites bullish chart patterns, with upward momentum now targeting the $4,100 resistance zone. He also highlights growing confidence from large holders, who continue to accumulate despite recent market volatility. The combination of positive ETF developments, robust on-chain fundamentals, and Ethereum’s evolving role in decentralized finance has set the stage for a potential medium-term breakout.

Should these trends persist, Ethereum may not only recover further but also reassert its leadership in the smart contract and digital asset economy.

Recently we wrote that ​Ethereum’s string of institutional inflows came to an end on Friday, marking the first net outflows for spot Ether ETFs in 19 days

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