His comments arrive amid a sharp rally fueled by corporate treasury buying and a surge in institutional inflows.

On X, Trump shared his satisfaction at watching short sellers get squeezed out of their positions. The move wasn’t just a minor shake-up — on-chain data from Lookonchain shows one prominent trader lost over $15 million as Ethereum rocketed past $4,200, forcing the liquidation of his entire position. CoinGlass figures revealed that, in just 24 hours, more than $120 million in ETH shorts were wiped out.

Behind the price action is a growing trend of public companies adding Ethereum to their balance sheets. Collectively, corporate holdings now exceed $11.7 billion in ETH. BitMine Immersion Technologies alone has amassed 833,000 ETH, worth about $3.2 billion, and aims to control 5% of the total circulating supply.

This isn’t Eric Trump’s first bullish call. Even during recent market corrections, he advised buying Ethereum on dips — a stance that appears to be paying off as the asset leads market gains.

Ethereum’s 8% jump over the past day has far outpaced Bitcoin’s 1.19% gain, capping off a 49% rally over the last month. U.S. spot ETH ETFs pulled in $864 million in a single day on August 9 — their largest daily inflow since July. BlackRock’s ETHA ETF topped the list with $189 million in new investments.

Other major holders are following suit. SharpLink Gaming now holds $2 billion in ETH, while Ether Machine maintains 345,000 ETH. Nasdaq-listed Cosmos Health recently announced a $300 million financing deal to build an Ethereum treasury, a move analysts say could provide regulatory advantages for certain investors.

Mega whales have been equally aggressive, adding 2.1 million ETH to their wallets in July alone. With 28% of the total supply staked and ETF demand absorbing even more coins, circulating ETH is shrinking.

From a technical standpoint, Ethereum has broken out of a multi-month symmetrical triangle — a setup many chartists view as the beginning of a much larger move. Analyst MMCrypto has suggested that if ETH can secure a weekly close above key resistance, the market could see a sharp vertical rally, possibly reducing Bitcoin’s dominance in the short term.

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Filed under: Bitcoin - @ August 10, 2025 2:02 am