Ethereum Surges Over 6% — Breaks $3,000 to Hit 5-Month High

TradingKey – On Friday, July 11, Ethereum (ETH) rallied 6.3%, briefly crossing the $3,000 mark for the first time since February 2, 2025. At press time, ETH is trading at $2,959, marking a strong recovery in the altcoin space.

Ethereum Price Chart – Source: TradingView.

Despite the bullish momentum, the Ethereum Foundation once again sold into strength. On July 10, on-chain analysts tracked a transfer of 1,000 ETH to a linked address, followed by a sale of 1,210 ETH early Friday at approximately $2,900, netting $3.496 million in USDC.

However, institutional demand remains robust:

• BlackRock reportedly purchased $158 million worth of ETH overnight.
• GameSquare, a Nasdaq-listed firm, acquired over 1,800 ETH for $5 million.
• A whale wallet starting with 0x8c0 invested $25 million to buy more than 9,000 ETH.

These large-scale purchases suggest growing confidence in Ethereum’s long-term value, even as the Foundation trims its holdings.