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Ethereum Surges Over 5% — Breaks $3,100 to Hit New High for 2025

Source Tradingkey

TradingKey – On Wednesday, July 16, Ethereum (ETH) extended its rally, jumping 5.24% to break above $3,100, marking its highest level since February. Meanwhile, Bitcoin (BTC) slipped nearly 1%, trading around $117,000.

Ethereum 4-Hour Price Chart – Source-TradingView

Ethereum 4-Hour Price Chart – Source: TradingView

Institutional demand continues to drive Ethereum’s momentum. According to Kyle Reidhead, co-founder of Milk Road, ten crypto investment firms have collectively purchased over 550,000 ETH — worth approximately $1.65 billion — in the past 30 days, with buying activity accelerating.

The standout player is SharpLink Gaming (NASDAQ: SBET):

Acquired 75,000+ ETH in the past five days (~$225 million)
Now holds over 290,000 ETH, making it the largest corporate ETH holder globally
Surpasses the Ethereum Foundation, which holds around 51,200 ETH

On Tuesday, SharpLink’s stock surged 21%, closing at $28.97, as ETH’s rally boosted investor sentiment. With Ethereum’s price strength and SharpLink’s aggressive treasury strategy, analysts expect further upside for SBET.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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