Wrapped eETH (weeth) 
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Ethereum has secured $425 million in capital through SharpLink Gaming’s treasury allocation. As the largest altcoin by market capitalization, Ethereum has continued to draw significant institutional capital inflows into ETFs over the past week. Despite these developments, market confidence remains low as traders and investors await stronger signs of recovery.
Ethereum ETF Flows and Whale Accumulation
Ethereum Spot ETFs have witnessed consistent institutional inflows over the past four weeks. According to data from crypto intelligence platforms, the daily net flow into Ethereum ETFs has averaged over $11 million. Notably, a significant spike occurred on June 11, when daily net inflows exceeded $240 million. Although inflows have slowed this week, analysts anticipate a rebound in the latter half, fueled by recent bullish trends.
On-chain data highlights an increase in whale activity. Daily whale accumulation surpassed 800,000 ETH, with wallets holding between 1,000 and 10,000 ETH now collectively owning over 14.3 million ETH as of June 16. The single largest daily net inflow occurred on June 12, when whales acquired 871,000 ETH, marking a pivotal moment in this accumulation cycle.
Crypto analysts have observed that the current scale of whale accumulation resembles patterns last seen during the bull market of 2017. Since the beginning of H2 2024, this trend has intensified, supporting a bullish outlook for Ethereum in the mid to long term.
In Ethereum They Trust: Trump Media’s Dual ETF Filing
Trump Media and Technology Group, a prominent American technology firm, recently filed for a dual Bitcoin and Ethereum ETF. The proposed ETF allocates 75% to Bitcoin and 25% to Ethereum. If approved by U.S. regulators, this product could become the first dual-spot crypto ETF backed by a company associated with a former U.S. president.
The inclusion of Ethereum in the ETF filing is seen as a strategic move, reflecting growing institutional confidence in the asset. However, some analysts question the intent, particularly as another Trump-affiliated entity, World Liberty Financial, has gradually reduced its Ethereum exposure. Despite this, the move signals increasing mainstream acknowledgment of Ethereum’s potential.
Why Traders Aren’t Buying the New Ethereum Narrative
Despite Ethereum’s $425 million capital infusion from SharpLink Gaming’s treasury, market participants remain skeptical. SharpLink’s acquisition of 176,000 ETH has made it the largest corporate holder of Ethereum, yet this development coincided with a significant decline in the company’s stock price. The lack of clarity surrounding the purchase appears to have confused shareholders, further dampening market sentiment.
Efforts by Ethereum advocates, including public statements from Consensys executives, have done little to boost confidence. Ethereum’s price has continued to consolidate near the $2,400 level, showing no significant signs of recovery. Moreover, key on-chain metrics, such as active address growth and staking activity, remain largely stagnant, underscoring the lack of momentum.
Ethereum Price Forecast
At the time of writing, Ethereum is trading at $2,501, holding above critical support at $2,373. The altcoin is less than 10% away from the upper boundary of the Fair Value Gap (FVG) on the daily chart, positioned at $2,743. A decisive daily close above this level could propel Ethereum to test the $3,000 mark, a key psychological resistance point.
Technical indicators suggest further consolidation in the short term. The Relative Strength Index (RSI) reads 47, slightly below the neutral benchmark, while the Moving Average Convergence Divergence (MACD) displays red histogram bars, indicating bearish momentum. These factors point to a cautious outlook for Ethereum in the near term.
Expert Commentary
“Ethereum appears to be having its AWS moment — quietly but decisively establishing itself as the foundational settlement layer for on-chain financial infrastructure. We’re witnessing this transformation unfold in real time, and recent regulatory and market developments are accelerating the shift.
The SEC’s recent pivot on DeFi regulation is the latest in a string of positive developments that can act as an entry signal for institutions that have hitherto remained on the sidelines. But this isn’t just about price.
The broader context matters. The SEC’s softer stance, the success of Circle’s IPO, and stablecoin adoption by major e-commerce platforms are coalescing into a perfect storm. Ethereum is no longer just a ‘crypto’ story — it’s becoming indispensable infrastructure. It’s not about ‘blockchain’ anymore — not in the abstract. It’s about industrial-grade, programmable money systems. And Ethereum is leading the charge.”
Disclosure: This article is for informational purposes only and should not be considered investment advice. Readers are encouraged to conduct their own research or consult a financial advisor before making investment decisions.
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