Ethereum Soars 80% in One Month — Breaks $3,800 Ahead of 10-Year Anniversary

TradingKey – On Monday, July 21, Ethereum (ETH) extended its rally, briefly breaking above $3,800 and touching a high of $3,819, its strongest level since December 18, 2024. Over the past 24 hours, ETH surged nearly 5%, continuing a month-long uptrend that began at $2,100, marking an 80%+ gain.

Ethereum Price Chart – Source: TradingView

Institutional Demand Fuels ETH’s Rise

Ethereum’s market cap now stands at $452.8 billion, ranking 29th globally — ahead of companies like Costco  (COST), Johnson & Johnson (JNJ), Palantir (PLTR), ICBC, and Bank of America (BAC).

Assets ranked 29-41 in global market capitalization, source: 8marketcap.

According to Kyle Reidhead, co-founder of Milk Road, ten crypto investment firms have collectively purchased over 550,000 ETH in the past 30 days, with buying momentum accelerating.

Data from the Strategic ETH Reserve shows:

• 50 institutions now hold over 100 ETH each

• Combined holdings exceed 1.8 million ETH

• Bitmine Immersion Tech increased its ETH position by 80%, now holding 300,000+ ETH

• SharpLink Gaming (SBET) boosted its holdings by 60%, reaching 280,000 ETH

Top 10 Institutional ETH Holders – Source: Strategic ETH Reserve.

Macro Tailwinds and Market Rotation

The passage of three major U.S. crypto bills has triggered nearly $1 trillion in net inflows over the past month, pushing total crypto market cap from $3 trillion to $4 trillion.

• Bitcoin dominance has dropped from 65% to ~60%

• Ethereum’s share has climbed from 9% to 11%

BTC, ETH, and Altcoin Market Share – Source: CoinMarketCap

Ethereum’s 10-Year Anniversary Could Be a Catalyst 

On July 30, Ethereum will celebrate its 10th anniversary with global community events in Shenzhen, Hong Kong, and other cities. The milestone is expected to boost community sentiment and potentially push ETH toward the $4,000 mark.

Ethereum’s commemorative initiative — The Torch NFT — has already energized the NFT sector, lifting floor prices and trading volumes for collections like Moonbirds and CryptoPunks. NFT marketplace Blur jumped 15% in response.