Ethereum is showing significant growth, reaching a level of $4,326, the highest since December 2021. This move has led to market discussions and expert opinions.
Ethereum Rally and Price Analysis
Ethereum reached $4,326 on Saturday after a four-day rally, supported by significant short position liquidations. On Friday, the price level surpassed $4,000 for the first time since December 2024. As of the writing, Ethereum was trading at $4,190, corresponding to a 20% weekly gain. Since April, when the price was $1,383, ETH has shown a nearly 213% increase.
Investment Interest in Stablecoins and Tokens
The total investment in nine U.S.-listed Ethereum ETFs this year has exceeded $6.7 billion. Concurrently, ETH-focused firms have scooped up over $12 billion. This growth coincides with heightened interest from institutional investors and developers in Ethereum amid the increase in stablecoin applications and tokenized assets.
Peter Brandt's Take on ETH Growth
Peter Brandt, a well-known trader who has often criticized Ethereum, commented on the recent price surge. He stated, "This is one of my favorite charts right now," accompanied by the ETHUSD chart. Brandt previously indicated that he usually doesn't speak positively about Ethereum, even calling it a 'broken utility coin,' but his current stance seems to have softened.
Ethereum's rise to $4,326 underscores investor interest and changes in the cryptocurrency market. Expert opinions, like that of Peter Brandt, demonstrate an increasing recognition of Ethereum's potential amidst its growing popularity.
