Key Insights:
- A cup-and-handle breakout in the price of Ethereum points to an additional 1,000-point rally from current levels.
- Ethereum achieved a milestone of 207.17 million non-empty wallets, alongside more than 40 million ETH currently locked in staking.
- On September 18, U.S. spot Ethereum exchange-traded funds pulled in $143.8 million in net inflows, halting a three-day outflow sequence.
The BNB Chain reinforced its standing in tokenized equities as Binance Wallet integrated access to new pre-IPO campaigns. This offering allows eligible participants to gain indirect exposure to private enterprises ahead of potential public offerings.
This rollout coincided with the total number of tokenized-stock holders reaching approximately 4.1 million across multiple blockchains. The BNB Chain spearheaded the sector with roughly 1.7 million holders and a tokenized-stock market capitalization of about $1 billion.
When Will the Ethereum Price Be Ready for A $10K Breakout?
Prominent analyst Crypto Patel noted that Ethereum (ETH) is gearing up for a significant breakout, pointing to $4,892 as the primary resistance barrier. According to the analyst, maintaining a position above $4,892 could clear the path toward a broader target range of $10,000 to $15,000 on higher timeframes. Patel stated, “The accumulation is done. Now comes the expansion.”
Another well-known analyst, Trader Tardigrade, indicated that the Ethereum price has broken out of a cup-and-handle formation. The analyst explained that a high handle typically develops near the peak of the cup, usually settling within the upper 10% to 20% of the formation.
The analyst observed that this pattern highlights steady buyer demand alongside constrained selling pressure. He added that the breakout accompanied by the higher candle formation becomes even more pronounced as bears ultimately surrender control during the consolidation phase. Based on the depth of the cup shown in the chart below, ETH could readily advance another 1,000 points from its current position.
Ethereum Price Surpasses $2.5K As Whale Activity Pumps
On Friday, September 18, the price of Ethereum advanced to $2.63K, marking its highest valuation since January. This upward movement coincided with a surge in whale transactions, signaling heightened engagement among large-scale ETH holders as the digital asset gained momentum.
Santiment data reveals that Ethereum’s user base has also broadened, with the network hitting a record 207.17 million non-empty wallets. Meanwhile, staking continues to serve as a primary catalyst for long-term ETH demand, with more than 40 million ETH currently staked. Pooled staking options additionally enable smaller participants to engage in staking without needing to run individual validators.
The Santiment report further highlights that Ethereum’s decentralized finance ecosystem continues to bolster network utility, maintaining nearly $50 billion in decentralized finance total value locked distributed across stablecoins, lending protocols, decentralized exchanges, and liquid-staking platforms.
Ethereum ETF Inflows End Three-Day Withdrawal Streak
U.S. spot Ethereum ETFs shifted back to positive flows on September 18. Farside Investors documented $143.7 million in aggregate net inflows during the trading day.
BlackRock’s ETHA captured the lead with $114.3 million, followed by Fidelity’s FETH at $26.2 million, Bitwise’s ETHW with an additional $1.3 million, and VanEck’s ETHV contributing $1.9 million.
These inflows brought an end to three consecutive sessions of redemptions. Ethereum ETFs suffered $142 million in outflows on September 15, $224.1 million on September 16, and an additional $39.3 million on September 17.
Altogether, those sessions resulted in $405.4 million in cumulative withdrawals. Friday’s $143.7 million injection successfully recouped about 35% of that capital. Through September 18, total net inflows across the U.S. Ethereum ETF product suite hovered around $13.28 billion.
While these renewed inflows reinforced the brighter short-term market environment, they do not guarantee sustained institutional demand moving forward.
For the price of Ethereum, the immediate technical test centers on preserving the breakout above $2,600. Trader Tardigrade’s cup-and-handle model brings roughly $3,600 into focus, whereas Patel’s $4,892 resistance level remains a steeper hurdle to clear before his broader $10,000 projection comes into play.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments involve risk, and past performance does not guarantee future results. Readers should conduct their own research before making investment decisions.