Ethereum is making headlines again. In the last 24 hours, ETH price jumped by 6.5%, outperforming major cryptocurrencies like Bitcoin and XRP.
Ethereum Price Breaks Key Resistance
Ethereum is currently trading at $2,790.78, after gaining more than 6% in a single day and 7.3% over the past week. Experts believe a clean breakout above the $2,750 resistance zone could spark another sharp rally.
While ETH is slightly down by 0.2% in the last hour, overall momentum remains strong, especially as institutional interest is pouring in.
BlackRock’s ETF Sets New Record
BlackRock’s spot Ether ETF (ETHA) is now the top ETH-backed ETF by market cap, sitting at $5.06 billion. It currently holds over 1.83 million ETH, with a 7-day increase of +2.52% (45,182 ETH).
Key ETF Stats:
* Wednesday Volume: 43M shares (highest since launch) * Tuesday Volume: 24M shares * 30-Day Avg Volume: 18.83M (up from 12.97M in June) * Latest Net Inflow: +$158.6M * Total Inflows Since June: Over $1.3 Billion * Spot ETH ETF Market Inflow (Wednesday): +$211.3M.
Investor appetite is rising. Since July 7, more than $320 million has flowed into Ethereum ETFs.
Why Ethereum Looks Bullish
Strong indicators for Ethereum's future include:
* Strong price action * ETF demand reaching record highs * Massive capital inflows from institutions * Rising 30-day trading volume.
Ethereum’s latest price surge is backed by real institutional demand. With BlackRock’s ETH ETF setting new volume records and investor inflows climbing daily, ETH could be gearing up for its next big breakout.
In conclusion, Ethereum demonstrates significant growth driven by institutional investments and high ETF demand. Its price may show further dynamics in the near future.
