Ethereum Soars to Highest Level Since 2021 as Whales Accumulate $4.17 Billion ETH
Main Idea
Ethereum's price has surged past $4,300, reaching its highest level since late 2021, driven by whale accumulation, institutional inflows, and bullish market sentiment.
Key Points
1. Ethereum's price surpassed $4,300, marking its highest level since late 2021, with Bitcoin also reclaiming highs above $120,000.
2. Whale accumulation has been significant, with over 1.035 million ETH (worth ~$4.17 billion) absorbed by large wallets since July 10, indicating strong long-term conviction.
3. Institutional inflows are rising, with spot Ethereum ETFs like BlackRock’s iShares Ethereum Trust seeing monthly inflows increase by over 40%.
4. Market commentators on X (formerly Twitter) are optimistic, with predictions of Ethereum reaching $10,000 this cycle, citing strong liquidity and supply-tightening effects from staking yields.
5. At the time of writing, Ethereum's price was $4,507, reflecting a 4.85% drop in the past 24 hours.
Description
Ethereum has soared past $4,300, an all-time high since late 2021, as momentum builds behind a long-awaited breakout.
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