Ethereum Hits 3-Year High — ETH-Linked Stocks Surge in U.S. Pre-Market Trading
TradingKey – On Monday, August 11, Ethereum (ETH) rallied to its highest level since December 2022, sparking a wave of gains across ETH-related equities in U.S. pre-market trading.
Leading the charge was BitMine Immersion, the largest corporate holder of ETH, which jumped over 10%. SharpLink Gaming (SBET), the second-largest holder, rose more than 9%, while Bit Digital (BTBT) gained 5% and Coinbase (COIN) climbed 4%.
ETH continued its bullish momentum, reaching an intraday high of $4,350, just 12% shy of its all-time high of $4,900 set in November 2021. Analysts now forecast a potential breakout toward $5,000, fueled by ETF inflows, institutional accumulation, and regulatory clarity around staking protocols.
Ethereum Price Chart – Source: TradingView
As ETH surged, on-chain data revealed signs of profit-taking:
- According to @whale_alert, 11,000 ETH were transferred from an unknown wallet to a Coinbase institutional account
- Lookonchain reported that an early ETH ICO participant sold 2,300 ETH earlier today
These movements suggest that some long-term holders are capitalizing on the rally, though overall market sentiment remains bullish.
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