Ethereum Defies Expectations and Passes $4,500: Factors Behind the Surge
Main Idea
Ethereum has surpassed $4,500, driven by multiple factors including ETF inflows, institutional adoption, and supply constraints, with potential for further growth in the altcoin bull market.
Key Points
1. Ethereum's price surge is supported by six key factors: ETH ETFs with $1 billion daily net inflows, 401(k) plans including cryptocurrencies, stablecoins hitting a $270 billion ATH, the upcoming CLARITY Act, and Ethereum supply on exchanges at an all-time low.
2. 64 crypto treasury companies collectively hold over $16 billion in ETH, with total reserves exceeding 3.5 million ETH, and recent ETF inflows adding $1 billion.
3. Two companies applied for $24.5 billion in ETH each, potentially increasing total assets held by these firms to $46 billion.
4. The ETH/BTC pair broke the 0.0375 resistance, with potential for ETH to reach $9,600 if it hits the 2021 peak of 0.089 BTC.
5. The altcoin bull market is expected to continue under favorable conditions, with institutional and ETF-driven demand playing a significant role.
Description
Ethereum price recently soared past the $4,500 mark. NFT and DeFi fads ignited past market heights. Continue Reading: Ethereum Defies Expectations and Passes $4,500: Factors Behind the Surge The post Ethereum Defies Expectations and Passes $4,500: Factors Behind the Surge appeared first on COINTURK NEWS .
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