Ethereum (ETH-USD) is showing strong signs of potential, with recent ETF inflows and rising market momentum suggesting it could soon reach new all-time highs. According to QCP Capital, U.S.-listed spot Ethereum ETFs attracted over $220 million in just four days, marking the longest streak of inflows since July. Analysts believe this influx of capital could fuel Ethereum’s push to surpass its previous price record of $4,868, which would be a 35% gain from current levels.
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Rising Optimism Drives Ethereum’s Strength
ETH has been gaining traction, outpacing Bitcoin (BTC-USD) in recent days. The recent surge in activity is being driven by capital rotation, as traders move funds from BTC into ETH, QCP Capital notes. Ethereum’s on-chain activity has surged, and open interest in Ethereum futures contracts has reached an all-time high of 6.32 million ETH, worth over $27 billion. Additionally, Ethereum’s options market is seeing more action, with more than 2 million open contracts, the highest since June.
Increased Activity Positions ETH for Growth
Beyond ETFs and futures, Ethereum’s blockchain is seeing a sharp uptick in new wallets, fees, and transaction volumes. Data shows that Ethereum now hosts more USDT stablecoins than Tron, signaling growing adoption.
At the time of writing, ETH is sitting at $3,611.22.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
