Ethereum, which has long been overshadowed by Bitcoin and was expected to experience a major rally, rose above $2,800.
While it is being watched with curiosity whether this rise in Ethereum will continue or not, it has been evaluated that 7 whales may be behind this rise.
Lookonchain X stated in its post that seven whales or institutional addresses purchased 127,971 ETH ($358 million) in the last 24 hours, pushing ETH above $2,800.
Accordingly, the newly created 0x35fb wallet withdrew 54,125 ETH ($151 million) from Kraken.
Abraxas Capital pulled 40,986 ETH (worth $114 million) from Binance and Kraken.
SharpLink Gaming, which holds 205,634 ETH ($575 million), purchased an additional 5,072 ETH ($13.51 million) via OTC.
The GMX hacker converted all his assets, excluding FRAX, worth $32 million into 11,700 ETH.
Whale 0x8C08 spent 25M USDT to buy 9,188 ETH at $2,721.
Whale 0x3c9E withdrew 4,000 ETH (worth $11.18 million) from Kraken.
pfm.eth spent 8 million USDT to buy 2,900 ETH at $2,759.
$10,000 Prediction for Ethereum Arrives!
While a major rise in Ethereum supported by institutional accumulation is expected from now on, BitMEX co-founder Arthur Hayes also shared his ETH prediction.
In a post from his X account, Arthur Hayes expressed his bullish expectations for Ethereum, predicting that it could reach up to $10,000.
Hayes added that it is time for a big rally for ETH.
Arise Chikun, it's time…$ETH = $10,000
Yachtzee???????? pic.twitter.com/zRGlPh9LTJ
— Arthur Hayes (@CryptoHayes) July 10, 2025
*This is not investment advice.
