Ethereum’s significant surge followed Tuesday afternoon, with the price of its second-largest cryptocurrency surpassing $4,500 for the first time since 2021.
ETH surged 26% last week alone, pushing the 30-day increase to over 50%. Compare that with Bitcoin. Bitcoin has increased by about 6% a week, almost flat last month.
Traders betting on Ethereum were in pain on Tuesday, with more than $144 million liquidation over the last 24 hours per Coinglass data. Ethereum leads all crypto liquidation worth approximately $154 million over that period of its $403 million zap position across all assets.
The massive surge in Ethereum is supported by billions of net inflows into ETH’s exchange-traded products.
The second-largest cryptocurrency posted net ETF leaks for just three days since July began, breaking daily inflow records on Monday, driving investments of more than $1 billion.
These influxes were led by BlackRock’s iShares Ethereum Trust ETF (ETHA). Matches previous inflow records of assets $726 million.
That number is a continuation of the theme seen, as it is a net inflow of $170 million since Monday. ETFs surpass Bitcoin counterparts During last month.
Ethereum is also abundant in new public finance companies, highlighted by an active accumulation from companies such as Sharplink Gaming and Bitmine Immersion Technologies.
The pair holds the top two largest Ethereum Treasury Department, accounting for nearly $8 billion ETH According to StrategicEthReserve data. And those Treasury ministries are driven by Bitmine’s funding efforts, and become even bigger, Over $20 billion On Tuesday, we are looking for more Ethereum for our balance sheet.
Sharplink is also raising more funds, adding nearly $900 million last week after the announcement Direct $400 million on Monday.
There is a combination of finance companies and ETF inflows Leaded to about 8% of all ETH Supply was stolen as of Tuesday, with a 5% increase since April when publicly traded companies have not yet created strategic Ethereum reserves.
The current price is $4,502, and Ethereum is down about 8% from its all-time high mark of $4,878 in November 2021 per Coingecko.
I believe that Myriad’s predictors will celebrate winning the mark by the end of 2025. The odds for ETH reached $5K per year, reaching 77.7%. This is more than 30% profit last week as the asset prices rise.
