Ethereum Cracks $4,000 for First Time in 8 Months
Main Idea
Ethereum's price reached $4,000 on major exchanges, driven by increased activity and institutional interest, though it remains below its all-time high.
Key Points
1. Ethereum's price hit $4,000 on Coinbase, marking a 4% increase over 24 hours but still 18% below its 2021 peak of $4,878.
2. The cryptocurrency has rallied over 50% in the past 30 days as Ethereum treasuries have grown significantly.
3. Institutional investors like BitMine Immersion and SharpLink Gaming have accumulated $2.9 billion and $1.9 billion in ETH, respectively.
4. U.S. Ethereum ETFs have seen over $9.3 billion in net inflows since their debut, according to Farside Investors.
5. A Myriad Linea Markets survey indicated 76% of participants expected Ethereum transactions to exceed 12 million for the week.
Description
ETH, which last broke this threshold in December, rose 4%.
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