Ethereum (ETH), the flagship alternative cryptocurrency, was able to regain the $3,800 level early today, surged to an intraday peak of $3,810 with a bit stamp exchange.
Cryptocurrency is currently around 22.8% since peaking in November 2021 at $4,878. It has risen 54% over the past month alone.
Ethereum ETF is rolling
The latest price rally comes after the Ethereum Exchange-Traded Funds (ETF) recorded $4.1 billion worth of influx in the last 10 days alone. On July 22nd, they brought in $533 million in one day.
The outperformance of the Ethereum ETF (particularly the BlackRock Isshares Ethereum Trust ETF) promotes bullish sentiment.
Over the past week, the Spot Bitcoin ETF has been able to attract only a small fraction of the influx recorded by Ethereum counterparts.
Is $4,000 possible?
According to Polymarket Bettors, ETH has a 33% chance of over $4,000 this July.
At the same time, ETH is overwhelmingly expected to see 89% of users reach the above milestones this year.
Also, note that 54% of Polymarket Bettors have their ETH finally exceeded the $5,000 level in this year’s record-breaking ETF flow. Expanding corporate recruitment.
There is also a 9% chance that ETH will exceed $10,000 this year.
Interestingly, there is a roughly equal chance that ETH has reached five digits and hasn’t reached $4,000 this year.
Large whale purchase
According to data provided by Lookonchain, whales associated with Defiance Capital recently purchased a total of 30,366 ETH (approximately $114 million).
In addition to that, eight fresh wallets have accumulated a total of 583,248 ETH (approximately $2.2 billion) tokens over the past month, contributing to the ongoing gathering.