Ethereum Surges Past $3,300 as Whale Shorts Wiped and Holder Count Hits Record High

Ethereum (ETH) soared above $3,300 for the first time since February 1, marking a 7% daily gain and outperforming Bitcoin significantly. The ETH/BTC ratio spiked by 15% in just two days, reaching 0.028 BTC—the highest level since February. On the Bitstamp exchange, ETH hit an intraday high of $3,371, fueled by bullish momentum and favorable macroeconomic data.

Analytics firm Lookonchain revealed that a major ETH whale closed all short positions before being liquidated, losing $8.4 million in a single day. According to CoinGlass, over $56 million worth of ETH shorts were liquidated in just four hours, adding fuel to the rally. Market sentiment was further boosted by the latest U.S. Producer Price Index (PPI) coming in below expectations, reinforcing the likelihood of a Federal Reserve rate cut—a scenario historically favorable for risk assets like crypto.

Ethereum’s network fundamentals are also strengthening. On-chain analytics platform Santiment reported a record-breaking 152 million non-empty ETH wallets, highlighting surging user interest and adoption. Meanwhile, institutional activity is heating up. SharpLink, a publicly listed company, has emerged as the largest corporate ETH holder, amassing over 280,000 tokens in a short period.

Additionally, spot Ethereum ETFs continue to see steady inflows. BlackRock’s ETHA fund attracted $171 million in new capital on Tuesday alone, according to SoSoValue data, reflecting growing investor confidence in ETH as a long-term asset.

As all top 10 cryptocurrencies traded in the green, Ethereum stood out with the strongest performance, suggesting that renewed whale activity, ETF momentum, and macro tailwinds may be setting the stage for ETH’s next breakout—possibly toward the $4,000 mark.