The cryptocurrency Ethereum is demonstrating positive signs, including an increase in active addresses and growing interest from institutional investors. A breakout above key resistance levels is expected to lead to significant price growth.
Surge in Ethereum Addresses
Recent data shows that the number of active Ethereum addresses has reached 20 million, setting a new record. Over the past week, layer 2 network usage increased by 74.6%, indicating rising popularity for Ethereum's scaling solutions and high demand within its ecosystem.
ETF Inflows and Investment
Institutional interest in Ethereum continues to rise. Recent reports indicate that Ethereum-based ETFs experienced $71.3 million in inflows in just one day. Additionally, BlackRock has reportedly added $98 million worth of Ethereum to its holdings, signaling increased activity from large investors.
Final Phase of Ethereum’s 4-Year Cycle
Ethereum is entering the final phase of its historical four-year cycle. Analysts note that in previous cycles, such as in 2017 and 2021, ETH exhibited strong rallies during this period. The ongoing accumulation, along with technical breakout patterns, suggests a major move may be imminent.
With rising network activity, increased institutional interest, and the historical cycle in play, Ethereum may soon reach new heights. A breakout above the $2,800 level could pave the way to even higher prices.
