Ethereum Surges Over 6% — Breaks $3,000 to Hit 5-Month High
Source Tradingkey
TradingKey – On Friday, July 11, Ethereum (ETH) rallied 6.3%, briefly crossing the $3,000 mark for the first time since February 2, 2025. At press time, ETH is trading at $2,959, marking a strong recovery in the altcoin space.
Ethereum Price Chart – Source: TradingView.
Despite the bullish momentum, the Ethereum Foundation once again sold into strength. On July 10, on-chain analysts tracked a transfer of 1,000 ETH to a linked address, followed by a sale of 1,210 ETH early Friday at approximately $2,900, netting $3.496 million in USDC.
However, institutional demand remains robust:
- BlackRock reportedly purchased $158 million worth of ETH overnight.
- GameSquare, a Nasdaq-listed firm, acquired over 1,800 ETH for $5 million.
- A whale wallet starting with 0x8c0 invested $25 million to buy more than 9,000 ETH.
These large-scale purchases suggest growing confidence in Ethereum’s long-term value, even as the Foundation trims its holdings.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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