Key takeaways
ETH saw $515 million institutional inflow as SharpLink aggressively accumulated 144,501 tokens in nine days. Also, a rare Coinbase premium hints that U.S. whales are back in accumulation mode.
Ethereum [ETH] recent price actions have made investors turn heads.
Just recently, Lookonchain confirmed through their recent X tweet, that SharpLink has added another 32,892 ETH, amounting to $115 million, to its balance sheet, at press time.
This brings its nine-day gains to 144,501 ETH, valued at approximately $515 million.
This kind of aggressive accumulation does not happen in isolation. If you look at the broader on-chain data, there is a clear pattern: ETH demand is picking up steam on U.S.-based platforms and Coinbase is leading the surge.
Interestingly, ETH is trading slightly higher on Coinbase than on other global exchanges—a sign that U.S. whales and institutions may be stepping in ahead of the crowd.
Coinbase premium makes a comeback
The Coinbase Premium Gap on Ethereum is surging again, and it’s more than just a pricing quirk.
Coinbase is heavily used by U.S. institutions and high-net-worth investors, so when ETH trades higher there than on global platforms like Binance, it often signals serious buying pressure.
Historically, this premium has appeared ahead of major announcements, rate decisions, or ETF developments, suggesting that U.S. whales may be quietly accumulating ETH.
In short, the premium reflects real demand, not a glitch, and it could be a bullish signal for Ethereum’s next move.
Source: CryptoQuant
This also aligns with the bigger picture playing out. Ethereum is quietly climbing its way back into favor among whales.
Whether it is speculation around the spot ETF approval or just re-balancing ahead of the next rally, it is clear that deep-pocketed investors are not sitting this rally out.
ETH price and liquidation fuel
Technically, Ethereum has been on bullish momentum, with its prices witnessing a 7% surge in the past day and nearly 30% this week at press time.
Contrary, this rally occurs as long liquidations are rising too as per CryptoQuant data, which might sound bearish at first, but there is more to it.
In moments like these, a long squeeze can act as fuel, not friction. If too many over leveraged longs get flushed and ETH still holds up, the bounce that follows could catch everyone off guard and push things even higher.
Source: CryptoQuant
With institutions buying in quantities, Coinbase Premium flashing bullish signals and price pushing higher even through liquidations, this looks like more than just a short-term bounce for ETH.
