As the crypto market searches for its next direction, analysts are increasingly shifting their focus toward leading altcoins. Rather than watching short-term Bitcoin price swings, they are looking at altcoins. According to one analyst, starting July, Cardano (ADA) and Ethereum (ETH) stood out after fresh technical commentary, institutional adoption, and on-chain accumulation. This points to improving long-term fundamentals.
Ethereum Sees Strong Institutional and On-Chain Support
Ethereum is also showing signs of growing strength from both institutions and investors.
According to the update, JPMorgan has already tokenized around $800 million worth of assets on Ethereum across two investment funds. This reinforces Ethereum’s leadership in tokenized real-world assets.
Meanwhile, fresh on-chain data from Santiment shows accumulation is happening at both ends of the market. Over the past month, wallets holding less than 0.01 ETH increased their share of Ethereum’s supply by 1.82%. Large wallets holding 100 to 100,000 ETH increased their holdings by 1.73%.
✍️ TL;DR: Ethereum back over $1,800 on key stakeholder & retail distribution
📊 Metrics Used: Supply Distribution
🔗 Live chart of top asset supply distributions: https://t.co/H0QqO6RMGB📈 Ethereum’s rebound back over $1,800 is getting support from both sides of the holder… pic.twitter.com/7PvwSWfwFp
— Santiment Intelligence (@SantimentData) July 7, 2026
Santiment added that most selling is coming from mid-sized holders, exchange liquidity providers, and short-term traders. Meanwhile, both retail investors and whales continue adding to their positions. The analytics firm said this type of accumulation provides a stronger foundation for Ethereum. In fact, it trades back above $1,800 heading into the second half of 2026.
According to Ali Martinez, Ethereum’s $1,580 level remains its key support, noting it has sparked major rallies over the past three years. This includes a 149% surge in October 2023 and a 203% rally in April 2025. ETH recently bounced from the same level to test $1,800 resistance.
Ethereum is testing the historical significance of its $1,580 support once again.
Over the past three years, this specific level has functioned as a primary demand zone, halting corrections and triggering major upward expansions:
• October 2023: Catalyzed a +149% macro rally.… pic.twitter.com/uQMq67uT6o
— Ali Charts (@alicharts) July 8, 2026
However, the analyst also warned that repeated tests weaken support over time. Therefore, it is crucial for Ethereum to hold above $1,580 to keep its bullish outlook intact.
Cardano Founder Says Ethereum Is Following Cardano’s Path
Charles Hoskinson claimed that Ethereum is quietly moving toward the same design principles Cardano has been building around for years.
According to Hoskinson, Ethereum’s roadmap is gradually shifting toward the UTXO (Unspent Transaction Output) model. This is the transaction system originally introduced by Bitcoin and later enhanced by Cardano through its Extended UTXO (EUTXO) architecture.
Hoskinson argued that developers once dismissed UTXO as being too difficult to build applications on. However, Ethereum is now planning to adopt similar ideas. He said Cardano has already spent years refining the technology instead of simply discussing it.
He also called Cardano an undervalued blockchain, saying the network continues to innovate rather than copy competitors. In addition, he encouraged investors to take a closer look at ADA.
Meanwhile, Cardano processed over 119.4 million transactions between August 2020 and June 2026 with a 99.9999% success rate. It recorded only 119 failed transactions, according to Blockworks data. The figures highlight the network’s strong reliability.
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