Ethereum Slips 2% Today — Is a Massive $4,000 Breakout Just Around the Corner?
Jakarta, Pintu News – Ethereum price showed strength with a 4% increase on July 28 and is set to break the $4,000 level. Monday’s rise came after the largest ETH holder, SharpLink Gaming, bought an additional $295 million worth of ETH.
As a result, investors bullish on ETH were active again, characterized by a 35% jump in daily trading volume to over $33 billion.
Even though it rose yesterday, how is the Ethereum price moving right now?
Ethereum Price Drops 2.86% in 24 Hours
As of July 29, 2025, Ethereum was trading at approximately $3,742, or around IDR 61,429,564 — marking a 2.86% drop over the past 24 hours. Within that time frame, ETH hit a low of IDR 61,388,530 and reached a high of IDR 64,420,108.
At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $452.2 billion, with daily trading volume rising 26% to $35.58 billion within the last 24 hours.
Read also: Bitcoin Crashes to $117K – Is This the Start of a Massive Collapse? Double-Top Signal Sparks Panic!
Ethereum Price Eyes $4,000 Breakthrough
Ethereum is now approaching an important resistance level of $4,000. If it manages to break through it, this could pave the way to new record highs. This suggests that bulls remain confident despite concerns about the $2.6 billion ETH disbursement.
Ethereum’s market dominance has now risen to around 12%, the highest level in five years, according to crypto analyst Rekt Capital. The last time ETH reached this level of dominance was in July 2020.
During the bull run in 2021, Ethereum’s dominance even reached 19%. If this historical pattern repeats itself, it’s not impossible that the ETH price will set a new record again.
Rekt Capital also added that Ethereum is currently attempting to enter a historically important zone, characterized as the “green circle phase”. If successful, ETH is expected to lead the overall altcoin market rally.
Read also: The 3 Most Hyped Altcoins for August 2025 – Here’s Why They’re Blowing Up!
SharpLink Gaming Buys 77,210 ETH
Nasdaq-listed SharpLink Gaming Company (NASDAQ: SBET) has purchased an additional 77,210 ETH worth approximately $295 million, reinforcing their aggressive strategy of managing cash in the form of ETH.
This single purchase surpassed even the total ETH issued in the last 30 days, which amounted to 72,795 ETH. On-chain data shows that most of the newly purchased ETH has already been staked by SharpLink.
With this move, SharpLink’s total Ether holdings have now surpassed 438,000 ETH, valued at over $1.69 billion based on current prices.
After this latest purchase, SharpLink takes second place on the list of the largest ETH holders, behind Tom Lee’s BitMine Technologies which has 566,000 ETH, according to data from the Strategic ETH Reserve.
Institutional fund flows into Ethereum have also surged sharply. BlackRock’s Ethereum ETF recorded an inflow of $1.8 billion just in the past week.
In addition, as the demand for ETH as a corporate cash asset increases, more and more public companies have started to accumulate large amounts.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coinspeaker. Ethereum Price Eyes $4K Breakout, Purchase Sharplink. Accessed on July 29, 2025
