Ether Prices Blow Past $4,500 For First Time Since 2021
Main Idea
Ether prices surged past $4,500 for the first time since 2021, driven by institutional interest, ETF growth, and adoption by major companies like Stripe and Circle.
Key Points
1. Ether prices climbed above $4,500, reaching as high as $4,638, marking a 40% increase from early August lows.
2. Institutional interest in Ether is growing, with corporate treasuries and ETFs contributing to the price surge.
3. Companies like Stripe and Circle have announced EVM-compatible L1s, reinforcing Ethereum's role as a settlement layer for Web3.
4. Ether ETFs have seen record inflows, with holdings ratio increasing from 0.05 to 0.15 compared to Bitcoin ETFs.
5. Ether's spot trading volume has outpaced Bitcoin's in recent weeks, indicating stronger market momentum.
Description
Ether prices continued to extend their gains on Tuesday, August 12, surpassing $4,500 for the first time in more than three years.
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