“During the bull run of 2021, the price of Ethereum skyrocketed and significantly outperformed Bitcoin. But in this cycle, ETH has struggled to maintain its momentum. This year, the leading cryptocurrency surpassed its all-time high of 2021, but then fell by almost 50%. Is 2025 a lost year for the second largest cryptocurrency by market cap? Let’s take a closer look […]”, — write: businessua.com.ua
During the bull run of 2021, the price of Ethereum skyrocketed and significantly outperformed Bitcoin. But in this cycle, ETH has struggled to maintain its momentum. This year, the leading cryptocurrency surpassed its all-time high of 2021, but then fell by almost 50%. Is 2025 a lost year for the second largest cryptocurrency by market cap? Let’s take a closer look at ETH!
Whales holding more than 10,000 ETH have allowed the Ethereum price to surpass its 2021 all-time high. Listed below diagram Glassnode shows a significant increase the number of organizations that own over 10,000 ETH, between peak 2021 and June this year. However, since June, these whales have changed their behavior and accumulate more ETH .
Evolution of the number of addresses containing more than 10,000 ETH. Source: Glassnode
Demand from whales has allowed the second largest cryptocurrency by market capitalization reach an all-time high . Unfortunately, ETH failed to reach the psychological mark in the 5000 dollars and even dropped below $4,000 . Whales holding more than 10,000 ETH declined slightly during this period reduced their exposure but did not panic.
Those big briefcases weren’t the only ones showing off interest in ETH . Really, institutional investors were key players for Ethereum in 2025.
Institutional actors also supported ETH in 2025 BitMine Immersion decided to implement a strategy more or less the same as Strategy, but on Ethereum. With acquisition 99,000 ETH last week, the company now owns over 4 million ETH which is 3.4% of the total supply . BitMine Immersion was a major player in the ETH market in 2025, and the company may well continue to accumulate in 2026 as it seeks buy 5% of the total offer .
Meanwhile, Ethereum spot ETF demand in 2025 was higher than in 2024. The inflow of funds was special strong between July and October . And it was during this period that ETH suffered increasing volatility .
Inflows and outflows of funds in spot Ethereum ETFs. Source: Coinglass.
Despite the buying of spot ETFs, the price of Ethereum followed the decline of Bitcoin. ETH fell below $3000 and although the momentum remains unstable, refund up to $2000 possible.
In terms of speculation, 2025 turned out to be a disappointing year for ETH, which only managed to surpass its 2021 all-time high by a few tens of dollars. However, ETH has successfully attracted institutional investors, including BitMine Immersion. Therefore, Bitcoin is not the only asset that attracts large portfolios and institutional players. While the results have been mixed for investors expecting significant performance in 2025, the rise in institutional adoption points to a promising outlook for Ethereum in the coming years.
STEADY LADS $100,000 PORTFOLIO MONITORING Reserve as of 12/31/25:
💵 Stablecoins: 51% — 💰 Cryptocurrencies: 49%
No new deals have been made in recent days; the market lacks momentum. Portfolio exposure remains unchanged, balanced positioning allows us to remain ready for a potential Santa Rally while maintaining a cautious approach.
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