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BlackRock’s $300.9M ETH Bet Fuels Futures Surge as Ethereum Tops Bitcoin

Futures data confirms bullish speculation is heating up. Pepe, SUI, and Dogwifhat are seeing strong derivatives activity, yet Ethereum remains the anchor. Despite a negative funding rate, Ethereums dominance in open interest and volume reflects growing leveraged exposure.

Whales Boost ETH Holdings as Price Nears Key $3K Resistance Level

On-chain whale data reveals addresses holding over 10,000 ETH increased their holdings by 9.3% since October 2024. This pace is nearly twice as fast as the pre-rally accumulation rate in mid-2022, when ETH doubled in price. Whale holdings rose from 37.56 million to 41.06 million ETH in that span, according to Glassnode.

Ethereum Mega -Whale Net Position Change (Entities 10k+ETH) | Source : glassnode

Ethereums current price is around $2,977 and testing the $3,000 resistance level. Sentora notes that 4.1 million addresses are holding ETH between $3,000–$3,100, potentially creating short-term selling pressure. Still, the MACD and Ichimoku indicators on the weekly chart show bullish continuation potential as long as $2,550 holds as support.

Ethereum Price Analysis | Source : TradingView

Portfolio allocation data from CryptoGoos shows Ethereum makes up over 90% of observed holdings. ETHs overwhelming preference among institutions and whales further supports the rotation narrative from Bitcoin.

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