After months of underwhelming performance, Ethereum appears to be staging a strong comeback. Over the weekend, ETH surged above $2,600, recording over 40% gains in the past week alone — a move that has reignited optimism within the crypto community.
Whale Moves and Institutional Interest Spark Momentum
One of the key catalysts? Whales. On-chain data shows that large holders scooped up over 138,000 ETH in just 48 hours — a $337 million bet on Ethereum’s future. Add to that $434 million in liquidated ETH shorts, and it’s clear that the recent spike isn’t just noise — it’s backed by serious capital rotation.
Meanwhile, BlackRock’s quiet acquisition of nearly 8,000 ETH and its push for a staking-enabled ETF have made headlines. If approved, it could open the door to institutional yield-hungry capital — something Bitcoin doesn’t currently offer.
Ethereum Outpaces Bitcoin in Volume — A Shift in Trend?
Perhaps the most unexpected sign of ETH’s growing dominance is that trading volume briefly overtook Bitcoin’s on some exchanges — something that hasn’t happened in years. Some analysts view this as a hint of shifting momentum, where Ethereum begins to lead rather than follow.
The recent Pectra upgrade has also reinforced the token’s deflationary narrative. In just a few days post-upgrade, over 38,000 ETH has been burned, reducing circulating supply and intensifying long-term value potential.
But Not So Fast — Sentiment Is Heating Up
Despite bullish fundamentals, caution is warranted. The Crypto Fear & Greed Index is sitting in “Extreme Greed” territory — historically a signal that short-term pullbacks may follow.
Still, trader Axel Bitblaze, who first flagged this Ethereum resurgence on X (formerly Twitter), believes the altcoin could push toward $2,800 or even $3,000 before facing meaningful resistance.
Bottom Line
Ethereum’s price action, volume surge, and structural upgrades all hint at a possible leadership role in the current market cycle. Whether this is the start of a new ETH-led rally or just a short-term spike remains to be seen — but momentum is clearly building.
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
