Ethereum Soars to New Heights: Whales and Fools Rejoice! 🎉

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Oh, the grandeur of Ethereum (ETH), the illustrious altcoin, has once again ascended to the heavens, reaching the lofty sum of $3,300 for the first time since the dawn of February 1st! On the hallowed grounds of the Bitstamp exchange, this noble coin soared to an intraday peak of $3,371, a rise of 7% that would make even the most stoic investor blush with joy. 🌟

And yet, the tale of Ethereum’s triumph is not just a story of numbers, but of a battle of wits and wallets. In the past two days, our hero has outshone the mighty Bitcoin, with the ETH/BTC pair leaping by a staggering 15%. The pair now stands at 0.028 BTC, a level not seen since the days of yore, February. 🚀

But alas, not all is well in the kingdom of crypto. According to the wise sages at Lookonchain, a major whale, in a moment of hubris, closed all ETH shorts before being liquidated, losing a princely sum of $8.4 million in a single day. A cautionary tale, indeed! 🐳💰

And the carnage does not end there. Over the past four hours, more than $56 million of ETH shorts have been wiped out, as reported by the ever-vigilant CoinGlass. A day of reckoning, it seems, for those who dared to bet against the might of Ethereum. 🗡️🔥

Record-breaking holder numbers

The analytics platform Santiment has noted, with a flourish of the quill, that Ethereum holder numbers are “breaking records.” The network now boasts more than 152 million non-empty wallets, a number that would make even the most skeptical of critics bow in awe. 🙇‍♂️

📈 Ethereum’s market value has now grown by +50% since June 22nd, hitting its highest price levels since late January. The network has over 152.03M non-empty $ETH wallets, more than any other coin in cryptocurrency.

🗣️ Additionally, the crowd has taken note of the major price…

— Santiment (@santimentfeed) July 16, 2025

Corporate and institutional adoption

The tale of Ethereum’s rise is not just one of individual triumph, but of corporate and institutional adoption as well. The publicly traded company SharpLink, in a bold move, has emerged as the top corporate holder of the altcoin, amassing more than 280,000 tokens in a relatively short span of time. A true testament to the coin’s growing appeal. 🏦💼

And the good news does not stop there. Spot Ethereum (ETH) exchange-traded funds continue to attract steady inflows, with BlackRock’s ETHA fund drawing in as much as $171 million worth of fresh funds on Tuesday, according to the data from SoSoValue. A sign, perhaps, that the tide is turning in favor of our hero. 🌊✨

Positive macro data

The most recent rally was also fueled by the June Producer Price Index (PPI) coming in cooler than expected. This data, dear reader, means that the Federal Reserve is now more likely to cut interest rates, a move that could further boost the fortunes of Ethereum and its kin. 📊📉

It is worth noting, however, that all of the top 10 cryptocurrencies are currently in the green, but ETH has vastly outperformed them, a fact that would make even the most skeptical of investors reconsider their stance. 🤔💡

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2025-07-16 23:08