After Bitcoin’s collapse on December 10, altcoins took a major hit. However, Ethereum has shown resiliency and is beginning to recover. This action starkly contrasts how ETH performed over the majority of 2024. Nonetheless, three signs have surfaced that point to the recent spike in Ethereum’s price, with $4,000 being merely the beginning and maybe setting off its second leg, which could reach $5,000.
Ethereum growth signals
As we explore the Ethereum network further, we see a surge in user activity throughout the altcoin season. Statistics show that the network’s size and the number of active addresses have increased for a while now. Despite the recent collapse of Bitcoin, neither Ethereum investors nor the price of Ethereum Set for Growth have been affected. If this trend keeps up, Ethereum’s value will skyrocket.
A dramatic increase in the number of nodes in the network suggests that more money is entering the system since more addresses are joining the network. A spike is thus highly likely. Measurements taken directly from the blockchain indicate that whales have been buying ETF-Driven Growth over the past few weeks. According to the numbers, 13.2 million to 14.23 million ETH tokens are stored in 1k to 10k ETH wallets.
ETFs Drive Ethereum Growth
A similar increase from 24.87 million to 24.97 million has been seen in the holdings of individuals with 10,000 to 100,000. Whales believe a coin still has the potential for further value growth if they purchase more. Remember that some of these “whales” have clung to the coin for almost a decade, when its worth has skyrocketed from $50 to almost $4,000.
Thirdly, after a lukewarm response from Wall Street, there are signs that investors have started buying Ethereum Set for Growth in the spot market. According to the statistics, these funds’ total net assets have increased to $12.46 billion, as they have witnessed inflows for three consecutive weeks.
The inflows have been rising steadily and currently amount to more than $1.8 billion. As a possible boost, the SEC’s approval of the staking of these ETFs could attract more capital.
Ethereum Eyes $4,858 Breakout
According to the technical indications, ETF-Driven Growth will likely increase in the near future. According to the coin’s weekly chart, there seems to be some resistance close to around $4,073. Until Ethereum’s price breaks through that level, it has been below that barrier three times since March of this year.
As a result, the possibility of it achieving its all-time high of $4,858 will grow. A probable resistance level for Ethereum Set for Growth is $4,858, which is part of a longer-term cup-and-handle pattern. The coin’s price might rise to $8.845 in the long term thanks to its 82% cup depth.
In Summary
“Ethereum Expects Whale and ETF-Driven Growth” explains how huge investors (whales) and Ethereum-focused exchange-traded funds (ETFs) will drive Ethereum (ETH) growth. As institutional investors, especially whales, invest more in Ethereum, ETH demand may rise. Ethereum ETFs will also make Ethereum more accessible to individual and institutional investors, increasing market adoption. Whale investments and ETF expansion are expected to boost Ethereum’s price and market value.
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