- Whale 0xa523 shifted from altcoins into Ethereum with heavy leverage.
- VanEck CEO says Ethereum is ready for trillions in capital.
- ETH trades near $4,583 with resistance at $4,650–$4,700.
Ethereum markets are drawing attention as a major whale steps up leverage. Blockchain tracker Lookonchain reported that wallet address 0xa523 has increased its exposure to Ethereum. The whale now holds 86,845 ETH, valued at about $297.7 million, with a liquidation price of $4,342.8.
Just days earlier, on August 25, the same wallet sold 886,287 HYPE tokens for $39.66 million and 1.63 million Fartcoin worth $1.27 million. The sales resulted in a total loss of $1.14 million.
Capital from those trades was shifted into a leveraged bet on Ethereum, opening a 15x long position of 51,691 ETH valued at $226.7 million. That trade is currently down more than $13 million, with liquidation risk at $4,075.7.
VanEck CEO Calls Ethereum the “Wall Street Token”
In an interview with FOX Business, VanEck’s CEO described Ethereum as the only blockchain where institutions can safely deploy trillions. He highlighted Ethereum’s proof-of-work origins, community-driven funding, and 10 years of uptime as key strengths.
He also pointed to Ethereum’s 16 network upgrades as evidence of development resilience. According to him, Ethereum is already prepared for regulation through its Layer 1 and Layer 2 architecture, which enables KYC-compliant solutions without compromising security.
He predicted that Ethereum could reach $8,000–$10,000 before year end. Analyst Moon Owl called the target realistic, while market commentator Ted noted that many traders are already discussing similar ranges.
Key Technical Levels Around $4,500 Shape ETH Price Action
Ethereum is trading at around $4,583, marking a 0.68% daily decline. Chart analysis shows ETH broke out of a descending channel, rallied to $4,900, and then corrected.
Current resistance sits in the $4,650–$4,700 zone, while immediate support is found near $4,380. A deeper support level emerges around $4,140.
Analysts observed that buyers strongly defended critical levels, but increased supply has appeared at higher ranges. Sustaining above $4,500 could clear a path toward $4,700 and potentially higher levels.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
