Ether Approaches Historic Peak

Ether (ETH) surged 8% to $4,715 on Wednesday, edging closer to its November 2021 all-time high of $4,867. The rally comes as spot Ethereum ETFs recorded 【$2.3 billion】 in inflows over six consecutive days, with Monday alone seeing 【$1 billion】 entering the funds.

Institutional Demand Fuels Rally

Corporate treasury holdings of ETH now exceed 【$16.5 billion】, led by BitMine Immersion Technologies' 【1.2 million ETH】 ($5.33 billion) position. Glassnode analysts note ETH has become a "bellwether for broader altcoin performance," with active addresses reaching near-record levels.

Technical Indicators Flash Green

The Ethereum network processed 【1.87 million】 transactions on Tuesday, while DeFi total value locked (TVL) stands at 【$95 billion】 — claiming 61% of the sector's market share. ——This network activity suggests strong fundamental support for the price surge—— analysts say.

Price Discovery Looms

Market observers identify $4,750 as the key resistance level. "A breakout could signal the onset of a more speculative phase," Glassnode stated in its weekly report. Several analysts project targets between $7,000-$13,000 if ETH enters price discovery mode.

Diverging Predictions Emerge

While technical analyst Jelle cites a "bullish megaphone" pattern pointing to $13,000, others caution about potential resistance at the psychological $5,000 level. The coming days will test whether ETH can sustain momentum after its 【10%】 weekly gain.

Staking Reduces Sell Pressure

With over 【30%】 of ETH supply currently staked — effectively removed from circulation — the market faces reduced potential selling pressure. This structural shift coincides with growing institutional adoption through regulated ETF products.