Ethereum Price Prediction: SharpLink Gaming Reserves Increased by 30%, ETH Year-End Target Price $8000

Ethereum (ETH) has shown remarkable strength, with more and more institutions using Ethereum and more funds flowing into exchange-traded funds (ETFs), keeping the price above the important $3,600 level. Over the past few months, this global second-largest Crypto Asset has performed strongly. An increasing number of companies are using it as a financial asset, and positive legislative changes could bring greater returns.

Corporate Financial Strategy Drives Ethereum Accumulation

SharpLink Gaming's rapid capital expansion is the main driving force behind Ethereum's current surge. The company is listed on NASDAQ and is led by Ethereum co-founder Joseph Lubin. From July 14 to July 20, it purchased 79,949 coins at an average price of $3,238 per ETH. This brought its total holdings to 360,807 ETH, increasing its Ethereum reserves by over 30%.

This strategic initiative is funded by a $96.6 million market capitalization equity program, making SharpLink the largest corporate holder of Ethereum. The company's ETH concentration index has risen to 3.06, growing 53% since mid-June. Since launching its digital asset management program on June 2, SharpLink has earned 567 ETH in staking rewards. This shows that institutional holdings of Ethereum can be profitable.

Rubin emphasized that these purchases are part of a larger strategy. He stated, "The continued strength of ETH and our ability to acquire a large number of assets at favorable prices supports our goal of continuing to increase the concentration of ETH and shareholder value through the strict implementation of our capital growth strategy."

As institutional investor interest grows, the gap between Ethereum ETFs and Bitcoin narrows

The performance of Ethereum ETF investors far exceeds that of Bitcoin ETF investors. Over the past month, ETH has risen by 67%, while Bitcoin has only increased by 18%. According to the latest data, the gap in capital inflows between Bitcoin and Ethereum ETFs has narrowed from 45 times in April to 1.6 times on Tuesday. This is quite interesting.

Ethereum spot ETF inflows set a record of $2.18 billion, indicating growing interest from institutions. CryptoQuant research director Julio Moreno stated, "The purchase volume of U.S. Ethereum ETFs has surpassed that of Bitcoin ETFs." He noted that since April, the holdings ratio and spot trading volume of Ethereum compared to Bitcoin ETFs have significantly increased.

ETH/USD technical analysis shows it still has upward potential

From a technical perspective, Ethereum is showing strong signs of upward movement. The leading altcoin has found support above $3,670, while the 100-hour simple moving average provides further technical support. A key bullish trend line has formed, with support at $3,670, indicating that the price may continue to rise.

The current resistance levels are $3,770, $3,800, and $3,850. If Ethereum breaks through $3,850, it may quickly rise to $3,920, with a short-term target price potentially at $4,000 or even $4,200. The hourly RSI remains above 50, indicating that bullish momentum is still strong. However, the MACD shows that the bullish area is starting to weaken.

On the other hand, the immediate support level is at $3,670, with major support levels at $3,650 and $3,620. If the price breaks below these levels, it may retreat to $3,550 or the 38.2% Fibonacci retracement level of $3,494.

(Source: Trading View)

Clear regulations bring more benefits

President Trump has just signed the GENIUS Act, which makes the rules for digital assets more favorable. This bipartisan legislation establishes a federal framework for stablecoins and digital asset operations. It stipulates that assets must be fully backed and audited regularly. Institutional participants are pleased with the clearer rules, and officials stated, "The regulatory uncertainty surrounding cryptocurrency innovation has finally eased."

Ethereum Price Prediction: Year-End Target Price $8,000

Many analysts are optimistic about Ethereum's short-term prospects. Sean Dawson, the research director at Derive, stated that the current market conditions present a "great opportunity for Ethereum to explode." He also mentioned that "it is not unreasonable to expect Ethereum to soar above $8,000 before Christmas."

There are many variables supporting this optimistic view: more and more institutions are adopting this technology, the performance gap between ETFs is narrowing, regulatory regulations are becoming clearer, and technical indicators are also very strong. Ethereum appears to continue to grow, as companies like SharpLink are in a leading position in terms of capital adoption, and the inflow into ETFs is becoming increasingly strong.

The combined effects of institutional momentum, technical strength, and favorable regulatory factors indicate that as long as the price of Ethereum remains above $3,600, there is significant room for its current upward movement. An increasing number of investors and institutions view ETH not merely as a speculative asset, but as a true store of value that can generate returns through staking mechanisms.

ETH0.39%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Share
Comment
0/400
EveryNightIsTheGroomvip
· 07-23 07:49
Hurry, enter a position!🚗
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)