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ETH Ethereum Whales pledged more than US$160 million in ETH, and a target price of US$2300 emerged.
Key points
Ethereum Whales pledged more than US$160 million in ETH. At the same time, exchange withdrawals increased, and institutional funds continued to flow in.
The Ethereum ETF attracts positive capital inflows. Technical analysis points out that US$1850 is the key support level, and the potential target price is looking at US$2300.
Projects such as Robinhood Chain, Aztec, Aave, Base and Ondo have expanded the Ethereum ecosystem and enhanced the practical application value of the network while increasing the enthusiasm of market participants.
Ethereum Whale has locked in more than $160 million worth of ETH as collateral, reinforcing market bullish sentiment, with analysts viewing $2300 as the next major price target. Large players are accelerating their withdrawals from exchanges, while institutional capital inflows and network expansion further consolidate the overall prospects of the asset.
According to the chain data shared by Lookonchain, multiple whale wallets accumulated and pledged a large amount of Ethereum in a short period of time. These coordinated operations have reduced exchange balances and highlighted the growing confidence of major investors.
A whale wallet that had been silent for three months spent US$20 million on USDC to buy 10501 ETH at an average price of US$1905. In addition, a newly created wallet withdrew 12800 ETH (approximately US$24.47 million) from Binance and then pledged the entire balance.
In addition, two newly created wallets transferred more than 86000 ETH from Binance and Gemini, and locked each token for pledge. Combined with other transactions, these operations mean that Ethereum, worth more than $160 million, is leaving the exchange.
According to Lookonchain, an Ethereum ICO participant was also active again after 11 years of silence, transferring 2000 ETH. At the same time, BitMEX co-founder Arthur Hayes continued to increase his holdings and purchased another 1,332.5 ETH units worth approximately US$2.53 million.
Institutional investors are also increasing their exposure to Ethereum. The U.S. spot Ethereum ETF attracted a net inflow of US$38.09 million on July 20, while the spot Bitcoin ETF recorded an inflow of US$227 million. The combined performance of the two marks the fifth consecutive trading day that these products have achieved positive capital inflows.
While capital inflows improved, technical indicators also strengthened simultaneously. According to cryptocurrency analyst Ali Charts, Ethereum is forming a potential double bottom shape, with $1850 being a key support level. Analysis points out that if buyers successfully hold on to this price range, Ethereum is expected to move towards $2300.
The Ethereum ecosystem reaches a major milestone
In addition to market activities, the Ethereum ecosystem has also expanded through a number of important developments. Robinhood Chain, a Layer 2 network built based on the Arbitrum stack, is already available on the Ethereum main network. The platform supports tokenized stocks and ETFs in 120 countries, and its decentralized exchange trading volume exceeded US$1 billion shortly after its launch.
In addition, Aztec Network implemented the second phase of Rollup decentralization, and Vitalik Buterin released an updated streamlined version of Ethereum roadmap. Aave launched Stable Vaults, and Base unveiled a new privacy infrastructure specifically designed for institutional clearing.
At the same time, Ondo Finance launched perpetual futures products backed by tokenized stocks. ETH Labs and Ethereum Institution were also established as non-profit organizations to support Ethereum's role as a global clearing layer. A regulated investment fund in the UK has chosen Ethereum as its legal registration record.
Ethereum is currently trading close to $1930 after rising more than 8% in the past week. Whale pledges exceeding US$160 million, improved ETF inflows, expanded institutional participation and continued network development have together strengthened market expectations: ETH is expected to challenge the US$2300 level if key support levels remain intact.
