Overview
- ETH climbed to about $4,300 on August 11, marking its highest level since November 2021 as spot-ETF inflows topped $460 million in a single day
- Institutional and corporate buyers such as BitMine Immersion and SharpLink Gaming added over $1.2 billion in ETH to treasuries, driving exchange reserves to multi-year lows
- On-chain analytics show Vitalik Buterin’s known holdings exceeded $1 billion, underscoring whale and developer conviction in the rally
- Concentrated inflows into Binance and an all-exchange Estimated Leverage Ratio nearing 0.68 signal elevated potential for short-term profit taking or squeeze events
- Bitcoin trades near $123,000 record highs as analysts debate whether demand will broaden into other altcoins or remain concentrated in Ethereum