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Ethereum Hits New Record, Price Exceeds $4,000 – Is the Market Ready for a New Rally?

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by Giorgi Kostiuk

a day ago

Recently, the price of Ethereum continued its unstoppable rally, currently reaching the $4,189 mark, the highest level since December 2024.

Overview of Ethereum Price Rally

The price of Ethereum (ETH) rose by 7% over the past hours, extending its weekly gains to 21%. If the price holds above $4,000, it could signal the start of a new rally aimed at $5,000.

Growing Dominance of Ethereum

Market analysts note that ETH's price rise may also boost other altcoins as Bitcoin dominance continues to decline. According to popular traders, Ethereum could lead the next altcoin bull market.

Impact of Institutional Investments on the Market

Since July 10, more than 1.035 million ETH, valued at approximately $4.17 billion, have been accumulated by unidentified large investors, bringing renewed attention to ETH as a key asset for institutional investors. Some analysts warn about potential risks associated with significant asset consolidation among large players.

The Ethereum market is on the brink of potential substantial growth, but caution is advised regarding the risks tied to asset concentration among institutional investors.

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