Ethereum Tops $4,600 as BitMine Eyes $20B ETH Treasury
Main Idea
Ethereum's price and market capitalization have surged, driven by institutional and retail interest, with analysts predicting further growth and significant capital inflows into ETH-related investments.
Key Points
1. Ethereum's price reached $4,625, up 54% over the past month, with a market capitalization of $552 billion, ranking 18th among corporations.
2. Analysts predict a parabolic move for Ether, potentially reaching five figures this cycle, driven by retail, Wall Street, and global adoption.
3. BitMine Immersion Technologies filed to raise $20 billion to accumulate more ETH, which could equate to over 4 million ETH at current prices.
4. ETH ETFs have seen massive inflows, with nearly $1.5 billion more than BTC ETFs since July, indicating a notable shift in investor preference.
5. Momentum is fueled by institutional participation, with BlackRock contributing a record $640 million inflow to ETH ETFs.
Description
Ether prices have surged to their highest levels for almost four years, tapping $4,625 during Asian trading early on Wednesday morning. The asset has continued to build momentum and is now up a whopping 54% over the past month and 27% over the past week. Meanwhile, the latest move has taken it to within 5.3% of its 2021 all-time high of $4,878, according to CoinGecko. Ethereum’s market capitalization is now $552 billion, which ranks it 18th in terms of corporations and around $100 billion below ...
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