Ethereum surprised the market by crossing the $ 3,800, carried by massive liquidations of selling positions. This sudden movement, supported by solid technical signals and increased demand, replaces the asset at the center of attention. While some altcoins follow the trend, this revival of vitality could mark a turning point for the crypto market.
In short
- Ethereum approaches $ 4,000 after an increase of 70 % in a month, marking its highest level of the year.
- More than $ 100 million in selling positions on the ETH were liquidated in 24 hours, according to Coinglass.
- Several altcoins benefit directly from the bullish momentum of Ethereum and attract the attention of investors.
- Ethereum's dynamics act as a catalyst for the entire market, creating opportunities but also risks.
Ethereum shakes the market: liquidation of short positions and the return of institutional
While Sharplink deploys 6 billion to increase his influence in the Ethereum ecosystem, more than $ 100 million in selling positions have been liquidated, according to Coinglass datain the last 24 hours. This wave of liquidations started as Ethereum crossed the symbolic bar of 3,000 dollars, to reach an annual summit of 3,775 dollars on July 21.
The rise of ETH has also changed the balance of power with Bitcoin. The ETH/BTC ratio increased by 40 % over four weeks, reaching 0.03184, one higher this year.
The extent of the movement is surprising. Indeed, after months of stagnation, Ethereum now has an increase of 70 % over the last four weeks, a brutal reversal which reflects a strong reactivation of demand.
This upward dynamic is also based on a series of clear fundamental signals, strengthening the idea of a structural craze, far beyond a simple technical rebound:
- Whale activity: this Sunday, a size investor acquired 13,500 ETH for $ 50 million in USDT, an on-chain transaction;
- An increasing institutionalization: the Sharplink listed company has become the largest corporate ETH holder after buying 280,706 cryptos, valued at $ 1.06 billion;
- Technical perspectives: Ethereum faces key resistance at $ 4,100. If it is crossed, acceleration around $ 5,000 could start in the short term;
- A record adoption: Ethereum now has 152.03 million active portfolios, a record all blockchains combined, according to Santiment.
These on-chain data confirm that the revival of Ethereum vitality is not isolated, but integrated into a context of global recovery, supported by actors that are both institutional and strategic.
Altcoins in orbit: projects that take advantage of the Ethereum effect
While the rise of Ethereum focused attention, several altcoins in the development or consolidation phase took the opportunity to capture the interest of investors. Among them, Snorter Token ($ snort)a project centered on a TELEGRAM trading bot seems to get out of the game.
The product is distinguished by its approach oriented towards private investors. It allows any user to place orders from Telegram, with advanced safety functions. The project, still in the presale, has already raised $ 2.18 million, and offers its tokens to $ 0.0,989 per unit.
According to internal projections, the price of the crypto could reach $ 1.96 by 2026, which would represent a yield of 1,900 %. “The bot automatically checks tokens and protects against honeypots, rug in sweaters, and sophisticated sandwich attacks”specifies the project team.
The other project that is surfing on the Ethereum wave is the Bitcoin hyper ($ hyper). It offers a Layer 2 solution dedicated to Bitcoin, using Solana Virtual Machine to facilitate interoperability with web3 applications.
This L2 allows you to convert BTC to WRAPPED BTC via a canonical bridge, in order to use it in the DEFI, Gaming or NFT. The project has already raised $ 3.9 million, and the $ Hyper token is currently negotiated at $ 0.01235, with a target of $ 0.08625 by 2026.
In parallel, Floki, an OG from the world of the same, is experiencing a renewed interest carried by Valhalla, his game ecosystem based on the NFT. Since the launch of the platform on 1er July, more than a million transactions have been recorded, and 125,000 NFT were undermined. The token has jumped 92 % over the past four weeks, and analysts mention an additional potential of 50 to 80 %.
These dynamics relating to altcoins show that the rise of Ethereum acts as a sectoral catalyst. If the technical resistances like that of the $ 4,100 came to be crossed, this could accelerate an increase in the increase in the entire Crypto market, and in particular to projects in the launch or adoption phase.
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