Summary

Ethereum’s ether (ETH) has jumped to new heights, surpassing $3,200 for the first time in five months. This surge comes as Bitcoin experienced a rebound after dipping earlier this week.

Key Highlights

• Ethereum continues to lead the market with a 6.5% increase, marking a total gain of 22% in just seven days.
• Bitcoin faced a significant dip to $116,000 but saw strong recovery efforts from investors who capitalized on the low prices, helped by significant buying pressure noted by analytics firm Glassnode.
• Positive inflows into spot ETFs and increasing interest from treasury firms have served as a catalyst for ETH’s growth.

Additional Insights

Analyst David Shuttleworth pointed out that U.S.-listed ETH ETFs reached record inflows of over $900 million last week, making up 29% of the total for the year. Notably, Sharplink Gaming has acquired more than 74,000 ETH while Bitmine Immersion invested over $500 million in the asset.

Additional Reading

For further insights, check out this article on Altcoin Season Returns.