Ethereum ETFs Set New Record as Price Eyes $4,000
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Ethereum ETFs Surge to Record Volumes
Spot Ethereum ETFs have experienced unprecedented weekly trading volumes, reaching $1.63 billion—a 44% increase from the previous week. This activity marks a significant rebound from the mid-year lull, where daily volumes had dropped to $168 million. Now averaging $326 million daily, the surge reflects renewed investor confidence, mirroring patterns seen in Bitcoin ETFs during their early adoption phase.
Can Ethereum Hit $4,000?
Ethereum recently hit a high of $3,447 before facing selling pressure that brought it back to $3,100, aligning with a key Fibonacci retracement level. Analysts point to $2,899 and $2,770 as critical support levels. If ETH holds steady and bullish momentum persists, it could retest $3,400 and possibly reach $4,000 by year-end.
Renowned trader “Bloodgood” has already announced plans to buy ETH, targeting the $4,000 mark, while other experts predict even greater potential for Ethereum.
Pectra Upgrade Fuels Optimism
Ethereum’s upcoming Pectra upgrade is a key catalyst driving bullish sentiment. By improving scalability, security, and usability, the upgrade could solidify Ethereum’s dominance in the blockchain space. Analysts like AstroCryptoGuru suggest the upgrade could propel Ethereum to new all-time highs, potentially exceeding $5,500 if institutional adoption continues to rise.
As Ethereum builds momentum, all eyes are on its ability to sustain growth and capitalize on its evolving blockchain capabilities.