Ethereum, the largest altcoin by market capitalization, is witnessing a rise, surpassing major corporations while aiming for new records.
Rise in Ethereum's Value
Recently, Ethereum surpassed the $4,600 mark, reaching an intraday high of $4,682. This movement brings Ethereum closer to records not seen since November 2021, requiring merely a 5% increase to set a new all-time high.
Investor Forecasts and Expectations
Predictive models from the Polymarket platform suggest that investors are betting on Ethereum’s continued rise, with an 84% probability of reaching $5,000 by year-end and a 59% chance of hitting $6,000.
Impact of ETFs on Ethereum
Spot Ethereum ETFs have significantly contributed to this rise. In August alone, substantial inflows of $523 million were recorded in the U.S., creating additional demand for the cryptocurrency.
Ethereum continues to show growth and investor confidence, signaling the potential for new highs in the financial market.
