Ethereum Surges Past $3,400 as Spot ETFs Record Historic $727M Daily Inflows
Ethereum (ETH) has had an incredible rise, going up more than 8% in the last 24 hours to cross the $3,400 mark. This is the highest price
Quick overview
- Ethereum has surged over 8% in the last 24 hours, surpassing the $3,400 mark, the highest since mid-January.
- Record inflows into Ethereum ETFs, totaling $726.6 million, indicate strong institutional demand for the cryptocurrency.
- Corporate treasuries have accumulated over $5.33 billion in Ethereum, further solidifying its status as a long-term asset.
- Analysts predict Ethereum could target previous all-time highs, with immediate resistance at $3,500 and potential for further gains.
Ethereum ETH/USD has had an incredible rise, going up more than 8% in the last 24 hours to cross the $3,400 mark. This is the highest price level for ETH since mid-January. The cryptocurrency’s spectacular surge has been driven by record-breaking inflows into spot Ethereum exchange-traded funds, which shows that institutional demand is at an all-time high.
Record-Breaking ETF Performance Signals Strong Institutional Appetite
Wednesday was a big day for Ethereum ETFs. Spot funds had an incredible $726.6 million in net inflows, which is about 70% more than the previous record of $428 million established in December 2024. BlackRock’s ETHA brought in an incredible $499 million, and Fidelity’s FETH added $113 million to the day’s amazing performance.
It is impossible to emphasize how important these inflows are Recipes are. The US spot Ethereum ETFs now own more than 5 million ETH, which is more than 4% of the token’s total supply. This huge amount of institutional buying shows that Ethereum is becoming more and more of a long-term institutional asset instead of just a way to trade.
ETH/USD Technical Analysis Points to Continued Bullish Momentum
When you look at Ethereum’s price action from a technical point of view, it seems very positive. The cryptocurrency has found a critical support level at $3,300, and a bullish trend line adds to the technical support. ETH is now holding on to gains above the 23.6% Fibonacci retracement level after testing the $3,420 resistance zone.
Technical indications are still good. The hourly MACD is gaining strength in the bullish zone, and the RSI is over 50. Around the $3,250 level, the 100-hourly Simple Moving Average is still acting as support.
$3,350, $3,400, and the very important $3,450 level are all important resistance levels to keep an eye on. If Ethereum breaks above $3,450, it might quickly move up to $3,500 and maybe even $3,650. On the downside, the first support level is $3,300, and the significant support levels are $3,220 and $3,180.
Ether Corporate Treasury Accumulation Adds Fundamental Strength
Corporate treasuries have become important players in the accumulation of Ethereum, in addition to ETF inflows. Corporate holdings are now over $5.33 billion, which is around 1.33% of ETH’s total supply. Companies added more than $1.6 billion worth of Ether to their treasuries last month alone.
SharpLink Gaming is now the biggest corporate holder, with 280,706 ETH. They recently bought $68 million worth of tokens. World Liberty Financial, which is supported by President Donald Trump, even bought $5 million worth of ETH at $3,266, showing that they believe in the asset’s long-term potential.
Altcoin Season Catalyst as Bitcoin Dominance Weakens
Ethereum’s rise is happening at the same time as a bigger altcoin rally, and Bitcoin’s dominance has dropped from recent highs to 61%. This change could signify the start of a “altcoin season,” which is acts like a season when alternative cryptocurrencies do much better than Bitcoin.
XRP is up 7.6%, Solana is up 5.2%, and Dogecoin is up 6.9%, while Bitcoin is just up 0.7%. If Bitcoin’s dominance keeps going down toward 45%, analysts say that altcoins could have even bigger rallies.
Ethereum Price Prediction: Targeting Previous All-Time Highs
Ethereum looks like it will keep going higher based on the way the market is acting right now and the reasons behind it. The immediate goal is still the $3,500 barrier level, but if momentum keeps up, it might go as high as $3,650.
Analysts are hopeful that Ethereum will be able to break its previous all-time high of roughly $4,600 in the future. Strong institutional demand, corporate treasury accumulation, better tokenomics through staking, and the overall bullish mood in the crypto market all point to a good case for prices to keep going up.
Traders should still be careful about possible corrections, especially if the $3,450 resistance level is hard to break. If this level doesn’t break, the price could go back down to the $3,220 support zone before trying to go up again.
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