“Wolf,” a widely-followed pseudonymous crypto guru on X, has laid out a bullish framework for Ethereum, signaling that the world’s second-largest cryptocurrency might soar to $13,000 as soon as Q4. Even if that’s the sky-high scenario, his more cautious estimate still envisions ETH comfortably cruising past $8,000—well over twice today’s price.
Detailing his outlook in a chart-packed update released Friday, Wolf anticipates that Ethereum will rocket upwards after setting fresh all-time records. Yet, he also cautions about a potential 20%–25% dip post-breakout—a “final shakeout” he describes before the broader upswing takes hold again.
Institutional Moves Fueling Optimism
Backing up this upbeat narrative, institutional players seem to be flexing their muscles. On Monday, the analytics platform Lookonchain revealed that SharpLink Gaming (SBET)—a Nasdaq-listed firm that rolled out its ETH treasury game plan on June 2—added a hefty 77,210 ETH to its stash, shelling out around $295 million. This brings SharpLink’s total holdings to 438,017 ETH, valued near $1.69 billion, crowning it the largest publicly traded corporate Ethereum hoarder.
Notably, this acquisition followed the recent appointment of Joseph Chalom, formerly with BlackRock, as the company’s new co-CEO. Just days before, SharpLink disclosed it had accumulated 567 ETH via staking rewards since initiating its ETH buying spree.
ETH Sentiment Shifts Dramatically
Meanwhile, Chris Burniske, partner at Placeholder Ventures, pointed out a seismic sentiment reversal among crypto enthusiasts over the past month. “ETH went from most hated coin to darling of CT in ~5 weeks,” he tweeted, referencing the crypto crowd on X. Since June 23, the asset has rocketed roughly 73% higher.
Currently, Ethereum trades at $3,884—up 2% within the last 24 hours according to CoinDesk figures.
Quick Stats You Should Know
According to recent on-chain data:
- ETH’s supply held by SharpLink Gaming now tops 438,017 coins, worth approximately $1.69 billion.
- Since June 23, the price of Ethereum surged roughly 73%, highlighting a strong bullish momentum.
- SharpLink’s latest purchase of 77,210 ETH equated to about $295 million.
Technical Analysis at a Glance
- CoinDesk Research’s tech analysis shows ETH bouncing from $3,771.30 to $3,888.72 between July 27, 09:00 UTC and July 28, 08:00 UTC—a solid 3.11% uptick with a 4.91% intraday price spread.
- Breaking through resistance near $3,837–$3,850 on healthy volume, Ethereum established a fresh support base, eyeing a move toward the $3,950–$4,000 range.
- Within the last hour of trading, ETH climbed from $3,890.61 to $3,898.38, including a sharp spike at 08:05 UTC from $3,876 to $3,898 on elevated volume—spotlighting institutional buying at breakout prices.
Note: Portions of this report were crafted with AI assistance and meticulously reviewed by our editorial squad to guarantee precision and compliance with our standards.
