Ethereum: Is this the start of a 2017-style ETH rally? – Data suggests…
2025-07-17 20:05:31
Main Idea
Ethereum's recent 8% rally and institutional buying activity suggest a potential repeat of its 2017 breakout, with analysts predicting a possible surge to $6,200 amid shrinking supply on exchanges.
Key Points
1. Ethereum (ETH) rallied 8% in 24 hours, trading at $3,435 with a daily volume of $52M, trailing Bitcoin's volume by $20M.
2. Analyst Mister Crypto predicts ETH could surpass $6,200, mirroring its 2017 cycle, citing similar market patterns and increasing trading volume.
3. Institutions like BlackRock and WLFi have significantly increased their ETH holdings, with BlackRock holding 2.021M ETH ($7B) and WLFi purchasing $4.99M worth.
4. ETH supply on exchanges dropped to 13.4%, lower than Bitcoin's 14.5%, indicating stronger demand and potential supply crunch.
5. Growing institutional adoption, including stablecoin deployments, is further boosting Ethereum's demand and price momentum.
Description
Ethereum rallies 8%, with institutional buys boosting momentum. Could ETH mirror its 2017 breakout to $6,200?
Latest News
- Ethereum reclaims $3.5K – Analyzing KEY factors driving the move2025-07-18 06:15:42
- BNB breaks $700, yet bulls are still hesitant – Here’s why!2025-07-18 05:05:32
- Ether treasury company’s shares surge after Peter Thiel’s 9% stake announcement2025-07-18 04:12:47
- Trump’s World Liberty Financial crypto tokens WLFI approved for trading – Details2025-07-18 03:09:36
- Is Bitcoin Dominance topping out? If so, traders should expect…2025-07-18 02:08:24