Ethereum Price Inches Closer to $5,000 as Institutions Pour $1 Billion into ETH
- Institutional Ethereum buys surpass $1 billion, led by BlackRock and Fidelity
- Analysts see ETH nearing breakout, drawing parallels to past 20x price surges
- Price targets of $20K–$30K emerge if $4,300 resistance breaks with momentum
Ethereum has just smashed its all-time high, nearing the $5,000 level for the first time in history. This latest price move is fueled by a massive wave of institutional buying, with on-chain data from Arkham showing that spot ETFs have collectively scooped up $1 billion worth of ETH in just the last few days.
How we got here. This breakout didn’t come from nowhere. Here was our analysis of the key levels right before the price took off.
Institutional Floodgates Open for ETH
BlackRock led the charge with a $640 million buy, followed by Fidelity with $270 million and Grayscale adding $80 million. On top of this, news is swirling that mining firm Bitmine is interested in raising another $20 billion to raise its ETH treasury.
The post Ethereum Price Inches Closer to $5,000 as Institutions Pour $1 Billion into ETH appeared first on Coin Edition.
Read More
Ethereum (ETH) Price Prediction for August 14
Ethereum Price Inches Closer to $5,000 as Institutions Pour $1 Billion into ETH
- Institutional Ethereum buys surpass $1 billion, led by BlackRock and Fidelity
- Analysts see ETH nearing breakout, drawing parallels to past 20x price surges
- Price targets of $20K–$30K emerge if $4,300 resistance breaks with momentum
Ethereum has just smashed its all-time high, nearing the $5,000 level for the first time in history. This latest price move is fueled by a massive wave of institutional buying, with on-chain data from Arkham showing that spot ETFs have collectively scooped up $1 billion worth of ETH in just the last few days.
How we got here. This breakout didn’t come from nowhere. Here was our analysis of the key levels right before the price took off.
Institutional Floodgates Open for ETH
BlackRock led the charge with a $640 million buy, followed by Fidelity with $270 million and Grayscale adding $80 million. On top of this, news is swirling that mining firm Bitmine is interested in raising another $20 billion to raise its ETH treasury.
The post Ethereum Price Inches Closer to $5,000 as Institutions Pour $1 Billion into ETH appeared first on Coin Edition.
Read More