Ethereum’s Ether Headed to $5K as Activity, Institutional Demand Grows
“According to ETH’s realized price—the average price at which holders purchased their ETH—the current upper limit for ETH’s price stands around $5.2k,” CryptoQuant said.
“According to ETH’s realized price—the average price at which holders purchased their ETH—the current upper limit for ETH’s price stands around $5.2k,” CryptoQuant said.
ETH surpassed the level for the first time since March.
The world’s second largest cryptocurrency may begin to outperform given the recent inflection in ETF inflows, the report said.
Ethereum has recently been making waves for the right reasons, providing bullish cues to its native token, ether (ETH). Now, the cryptocurrency’s price chart reveals a compelling pattern reminiscent of the set-up in bitcoin (BTC) before it chalked …
Improved outlook for the DeFi space and warmer regulatory climate with incoming U.S. administration are main drivers behind the sentiment shift towards ether, LMAX strategist Joel Kruger said.
“Given that ETH has lagged behind BTC and SOL in the current rally, its recent strength supports the case for it to retest its all-time high,” QCP Capital said.
The market assigns a very low probability of ether challenging its year-to-date high of around $4,000 by the end of December.
Following their listing, ether ETFs did not enjoy the same response as their bitcoin equivalents had done in January
ETH is on track to register its biggest weekly since May, but remains well below its record high.
Elevated interest rates in the U.S. have dented ether’s appeal as the internet equivalent of a bond, offering a fixed-income-like return on staking.