Ethereum Accumulation Spikes: How High Could ETH Price Climb?
TLDR:
- Fresh wallets withdraw over $24M in ETH, signaling strong accumulation trend.
- SharpLink Gaming plans $425M ETH buy, boosting corporate adoption narrative.
- Analysts eye ETH price targets near $4.8K with potential for $8.5K breakout.
- ETH dominance holds 9% support, hinting at a possible altcoin market rally.
Ethereum accumulation activity has surged lately as fresh wallets pour millions into ETH purchases. The cryptocurrency has shown strong momentum with notable price increases over recent days.
Major institutional interest is building around Ethereum, while technical analysts project substantial upside potential. Market dominance metrics suggest ETH could gain ground against Bitcoin in the coming weeks. These developments paint a bullish picture for Ethereum’s price trajectory.
Fresh Wallets Drive Ethereum Accumulation Wave
New investors are showing strong confidence in Ethereum’s future prospects. According to Spot On Chain, six newly created wallets withdrew 9,230 ETH worth approximately $24.55 million from major exchanges OKX and Kraken within 15 hours on May 27.
Fresh wallets are loading up on $ETH!
In the past 15 hours, 6 newly created wallets withdrew 9,230 $ETH (~$24.55M) from #OKX and #Kraken — at an average price of $2,660.
Bullish on #Ethereum?
— Spot On Chain (@spotonchain) May 28, 2025
The purchases occurred at an average price of $2,660, indicating strategic accumulation by sophisticated market participants.
This accumulation pattern often signals institutional or high-net-worth individual interest in ETH. Fresh wallet activity typically precedes price movements in cryptocurrency markets. The substantial volume and coordinated timing suggest calculated positioning rather than retail speculation.
Corporate adoption is accelerating Ethereum’s institutional acceptance across traditional finance sectors. Nasdaq-listed SharpLink Gaming announced a $425 million fundraising initiative specifically to purchase Ethereum for treasury purposes.
The announcement triggered a 262% surge in SharpLink Gaming’s stock price, demonstrating investor enthusiasm for corporate ETH strategies.
Wise Advice noted the parallel to MicroStrategy’s successful Bitcoin treasury approach, expressing optimism that similar corporate adoption could propel ETH above $10,000. This corporate interest represents a fundamental shift toward viewing Ethereum as a legitimate treasury asset alongside traditional reserves.
Technical Analysis Points to Major ETH Price Targets
Technical indicators are aligning to support bullish Ethereum price predictions from market analysts.
Javon Marks maintains his target of $4,811.71 for ETH, representing a potential 78% increase from current levels. His analysis suggests breaking this resistance could open pathways to $8,500 and beyond.
Current ETH price data from CoinGecko shows Ethereum trading at $2,643.89 with a strong 24-hour volume of $26.9 billion.
The cryptocurrency has gained 3.25% in the past day and 3.66% over the previous week. Price action has established support around $2,480.54 and faces resistance near $2,720.76.
Ethereum’s market dominance is showing signs of stabilization at critical technical levels. Rekt Capital highlighted that ETH dominance is attempting to hold the 9% threshold as support, which could indicate a growing market share relative to Bitcoin. This metric has recovered from all-time lows reached in April 2025.
Successful defense of the 9% dominance level could signal the beginning of an altcoin rally led by Ethereum. Rising ETH dominance typically coincides with capital rotation from Bitcoin into alternative cryptocurrencies.
Market observers are watching this level as a potential catalyst for broader altcoin market expansion in June.
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