Ethereum, the second-largest cryptocurrency, is demonstrating impressive growth, achieving a new peak at $4,720.
Ethereum's Recovery Over Recent Months
Four months ago, Ethereum was around $1,500, experiencing significant falls amidst market fluctuations. However, since the beginning of July, the asset has seen a sharp rise of over $2,000.
Reasons for ETH's Growth and Short Liquidations
Data shows that over $250 million in short positions have been liquidated in the last 24 hours just for Ethereum. Key factors for growth include substantial inflows to spot Ethereum ETFs in the US and accumulation by institutional investors.
Investment Trends and Ethereum's Future
Despite a general lack of interest from retail investors, there is a noticeable increase in buying activity from institutional players. This contradiction highlights a shift in investment preferences within the cryptocurrency market.
The sharp rise in Ethereum's price highlights its market prospects and institutional interest, despite retail traders' skepticism.
