Ethereum (ETH) has once again reached $3,800, generating interest among investors and experts alike. Let's examine the factors contributing to this rise.
Ethereum Price Surge
Today, Ethereum peaked at $3,810 on the Bitstamp exchange. The cryptocurrency is currently about 22.8% off its November 2021 peak of $4,878. Over the last month, ETH has surged by 54%.
Impact of Ethereum ETFs
The recent price rally comes after Ethereum ETFs attracted $4.1 billion in inflows over the past 10 days. On July 22, they recorded $533 million in a single day. This success is fueling optimism among investors, particularly with BlackRock's ETFs.
Forecasts and Major Purchases
According to Polymarket estimates, ETH has a 33% chance of exceeding $4,000 this July. 89% of users expect it to hit this milestone within the year, and 54% believe ETH can surpass $5,000. Additionally, data from Lookonchain shows that a whale linked to DeFiance Capital recently purchased 30,366 ETH for approximately $114 million.
Ethereum shows strong growth, though forecasts remain uncertain. The interest from ETFs and large investors may play a crucial role in the future price movements.
