ETH returns to 3000 USDT, can institutional accumulation support the rebound in the market?

According to the latest news, ETH has broken through the 3000 USDT threshold, with the current price at 3000.64 USDT. This is a rebound following the previous dip below 3200 USD. Although the rebound magnitude appears modest, the underlying institutional adjustments and ecosystem improvements are worth noting. In a market generally under pressure, whether ETH can hold this level tests the true support of its fundamentals.

The Real Signals Behind the Price Rebound

Rebound Characteristics in Short-Term Fluctuations

According to data, ETH’s current price fluctuates around $2,975.77. From a time perspective, the price shows clear short-term oscillations:

This data indicates a phenomenon: ETH experienced a technical rebound in the short term, but the overall trend is still digesting the previous decline. The 1.5% increase in 1 hour is enough to break the psychological barrier of 3000, but the 24-hour figure remains negative, reflecting ongoing tug-of-war between bulls and bears.

Market Size Continues to Expand

Despite price fluctuations, the fundamental market conditions for ETH have not worsened:

• Market cap remains at $35.916 billion, accounting for 11.85% of the market
• 24-hour trading volume is $3.122 billion, up 25.30% from the previous day
• Circulating supply of 120,694,540 ETH remains stable

The increase in trading volume indicates that this rebound is not a volume-less rally; market participation is rising, providing a basis for subsequent movements.

Institutional Accumulation Is Changing the Supply Pattern

What Does Bitmine’s 3.4% Holding Mean?

Data shows that Bitmine, led by Tom Lee, currently controls over 4.167 million ETH, accounting for 3.4% of the circulating supply. The significance of this figure lies in its impact on market liquidity structure.

According to the same information, this institutional accumulation, combined with participation from Sharplink and other institutions, as well as spot ETH ETFs, has reduced exchange-held ETH to about 16.3 million. In other words, the amount of freely tradable ETH in the market is decreasing, while long-term holders are increasing. This structural change is generally seen as a bullish signal, indicating that large holders tend to hold for the long term rather than trade short-term.

Insights from Institutional Operations

Although the news mentions that Bitmine faces shareholder criticism due to governance issues, its firm stance on ETH holdings remains unchanged. The company currently earns annualized yields of 400 million to 430 million USD through staking, providing economic incentives for long-term holding. Institutions are unlikely to continue increasing their holdings if the fundamentals deteriorate, indirectly reflecting their confidence in ETH’s medium-term prospects.

Ecosystem Improvements Are Lowering Usage Costs

Revolutionary Drop in Gas Fees

This could be an overlooked but crucial factor. According to reports, Ethereum’s Gas fees have plummeted to $0.01, a 99.98% decrease from the peak of about $50 during market highs.

The driving forces behind this change include:

• The launch of Fusaka upgrade
• Application of PeerDAS technology
• Widespread use of Layer 2 ecosystems

As a result, Ethereum has achieved a record 2.6 million transactions per day without fee surges. This indicates that the actual cost of using ETH has become comparable to Solana, shifting the competitive focus toward security and speed.

Long-term Implications for Price

The decline in Gas fees directly improves user experience and indirectly enhances ETH’s practical value. While it may not immediately push prices higher, it paves the way for ecosystem application expansion, which is beneficial for long-term ecosystem prosperity and value support.

Market Pressure Still Exists

General Market Correction

Data shows that the entire crypto market segment is retracing, with 24-hour declines generally around 2% to 9%. ETH broke below 3200 USD and then rebounded to 3000, reflecting an overall market adjustment rather than a problem unique to ETH.

Complex Signals from Whale Operations

The report mentions several whale activities:

• “On-chain investors” reducing high-leverage ETH shorts and shifting to on-chain stocks and gold
• “Never short” traders repeatedly stop-loss ETH longs, losing $38,000
• A whale liquidated positions in ASTER and ETH, losing $4.21 million

These operations indicate that some market participants are adjusting positions optimistically, while others are cutting losses. This mixed signal suggests that market sentiment on ETH’s medium-term direction remains divided.

Summary

ETH breaking through 3000 USDT signals a technical rebound, but its sustainability needs observation. Factors supporting this rebound include continued institutional accumulation, significant ecosystem Gas fee reductions, and moderate volume increases. However, the market still faces overall correction pressures, and whale activities reflect a complex sentiment.

The key is whether ETH can stabilize within the 3000-3200 range. If it can find support in this zone, it indicates that institutional buying power is strong enough to counteract market pressure. If it falls below 3000 again, a reassessment of the subsequent trend is necessary. In the short term, monitoring changes in open interest at this level and institutional operations will be crucial for judging the future direction.