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ETH Ether, as the native token of the Ethereum network, performed exceptionally well this Wednesday, outperforming most cryptocurrencies. Its price surged by 8%, reaching $4,663. This increase brought Ether close to its all-time high set in November 2021, indicating strong market demand for Ethereum. It also reflects investors’ continued confidence in this mainstream digital asset.
Bitmine, SharpLink, and Ether Machine led the surge in ETH holdings.
Bitmine Immersion Tech, the largest holder, owns 1.2 million ETH, worth $5.27 billion, accounting for nearly 1% of the total supply of Ether. Its ETH holdings increased by more than 600% in the past 30 days.
SharpLink Gaming follows closely, holding 598,800 ETH, worth $2.74 billion. Its holdings increased by 177% over the same period. Ether Machine ranks third, with 345,400 ETH, worth $1.58 billion. Its holdings increased by 8% in the past month.
The Ethereum Foundation, the non-profit organization managing the network, holds 232,600 ETH, worth approximately $1.07 billion. Although its holdings have slightly decreased, it remains one of the key holders. Other important holders include PulseChain Sac, Coinbase, and Bit Digital.
July saw the largest monthly increase in ETH holdings for enterprise investors.
Interest from these institutional investors has been growing for several months. According to Binance Research, enterprise ETH holdings increased by approximately 127% in July, reaching over 2.7 million ETH, worth approximately $11.6 billion.
Such aggressive increases in holdings have added more momentum to the upward trend of Ether over the past three years.
Analysts point out that the attractiveness of the Ethereum ecosystem continues to grow, from its role in decentralized finance to the development of token-based projects. This is driving both traditional financial institutions and crypto-native companies towards adopting Ethereum-based solutions.
While Bitcoin remains stable, Ether has performed exceptionally well. As the largest cryptocurrency, Bitcoin’s price on Wednesday was around $119,331, remaining unchanged for the day, but it increased by nearly 5% over the past week.
The entire crypto market has also been stronger, with the total market value rising by 1.8% to $4.1 trillion. Market observers believe that continued inflows of institutional funds and increased activity on the blockchain could determine whether Ether can narrow its gap from historical highs in the coming days.
