Ethereum (ETH) is locked at its record-breaking influx of institutional demand in 2021 as a surge in institutional demand, driven by a record-breaking influx of US Spot Ethereum Exchange Trade Funds (ETFs).
On Wednesday alone, the Ethereum ETF pulled in $729.9 million. This is the second largest daily influx since its launch, with BlackRock’s ETHA accounting for $500 million and Fidelity’s Feth adding $154.7 million. Over the past six days, these funds have attracted more than $2.3 billion and driven ETH prices of more than $4,900.
Standard Chartered has raised the ETF’s year-end price forecast from $4,000 to $7,500. Since June, ETFs have absorbed 3.9% of Ethereum’s circular supply, surpassing the accumulation of the Ministry of Corporate Finance.
Whale activities demonstrate confidence in the future of Ethereum (ETH)
Ethereum trades at $4,730, making it just 2.5% below record peaks, large owners, or “whales.” The mystical investor recently purchased 379,000 ETH worth $1.8 billion in just 10 days, but another whale has reentered the market with a $70 million purchase after selling it previously.
Not all large-scale activities are bullish, and even some early ICO participants and radiocapital hackers benefit, but the vast amount of strategic accumulation suggests strong confidence in Ethereum’s long-term trajectory.
On-chain data shows significant withdrawals from major exchanges, reducing immediate sales pressure and supporting bullish cases.
ETH's price trends to the upside on the daily chart. Source: ETHUSD on Tradingview
Breakout or rejection? Important levels to see
ETH is currently facing $4,800 in what analysts call the “final boss” resistance. According to the technical model, a decisive weekly proximity beyond this level could trigger price discovery rally towards $5,200, potentially $6,400.
However, if you can’t exceed $4,630, you could end up with an 18% pullback to the $3,760 support zone.
Institutional adoption, clarity of regulations from the US genius law, and a large portion of it is booming on Ethereum’s network, enhancing its investment appeal.
With Standard Charter projecting its $25,000 target for 2028, analysts say $4,700 could still be a strategic entry point for those betting on Ethereum’s role in the next phase of blockchain-driven finances.
Covers ChatGpt and Ethusd images in TradingView
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