Ethereum price has been exploding these last few days, and expert analysis suggests institutional buying might be the primary driver. Also, while the Ethereum price has crossed a new high, reaching 3800, experts say there may be more time.
Various factors have been identified as contributing to this surge, including ETF demand, rising layer 2 support, and Institutional demand.
Here is a detailed look at some of the factors making waves as catalysts, pumping the Ethereum price near $4,000.
Institutional Demand Fuels Ethereum Price Surge
Recent reports from BlackRock Ethereum ETF show a surge in institutional demand, with a record $2.77B inflow this last week. This surge in the last few weeks is returning a bullish sentiment to the market, with Ethereum nearing $4,000. In addition to the rising ETF inflow, there is a growing call for a staked Ethereum ETF, adding yield-generating exposure.
According to market metrics, whale holdings have risen by over 2 million Ethereum over the last few months, jumping from 12 million to 14 million between 2024 and now. Ethereum’s institutional narrative has shifted these past few months, becoming the backbone of tokenisation.
Price Action Effect of Rising Institutional Demand For Ethereum
Ethereum price is on a bull run with a recent breakout showing potential for bullish continuation. The price broke out of the old $3,400 resistance, retesting a high near $4,000. This surge has mainly been attributed to the surging institutional demand, with spot ETF attracting over $5.5B inflow since launch. In addition, BlackRock’s ETH ETF is already pushing the total AUM to over $9 billion.
Furthermore, assessing the technical indicators of the Ethereum price shows a strong buying momentum. This is as the Ethereum price consolidates around the $3,800 zone with a potential breakout target above $4,000. Meanwhile, shrinking net supply could be decisive in seeing Ethereum price pump further with growing demand amidst scarce supply.
How Remittix is Following the Ethereum Price Surge
The rising institutional demand, boosting Ethereum demand in the last few days, is also seeing Remittix explode. Remittix has seen a surge in support with whales shifting towards the project for its future-looking utility.
This utility is boosting a use case for users to convert crypto to fiat and send directly to bank accounts across borders, giving Remittix the nickname of the XRP 2.0.
Why investors are investing heavily in the project over the past weeks includes:
- Confidence in the Remittix project with CertiK audit showing transparency
- Community reward with the project’s $250,000 giveaway set to see 10 people win $25,000 each
- Long-term growth opportunity with the rising adoption of the project across the payment industry.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
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