$ETH Ether, Dogecoin Surge, Outpaces Bitcoin as DeFi Comments Spurs Bullish Mood
Ether outpaces bitcoin on fresh institutional inflows and rising demand for tokenization, signaling a potential push towards its all-time high.
However, all eyes are on ether
ETH$2,765.21
with traders commenting on upside volatility in the weeks to come and reporting record volumes for certain ETH-based products on some exchanges. ETH zoomed 5% in the past 24 hours, leading gains among majors.
Investors are finally recognizing the compelling investment opportunity that Ethereum presents. It’s still trading well below its all-time highs, while bitcoin is already near its ATH levels,” said Jeff Mei, COO at BTSE, in a message to CoinDesk.
He pointed to Ethereum's growing role in tokenizing real-world assets like stocks, money-market funds, and U.S. Treasuries, adding that it was “very likely that Ethereum will reach and/or surpass its all-time high price by the end of the year.”
Ether ETFs have attracted more than $800 million in the past two weeks alone, outpacing bitcoin’s sub-$400 million, according to SoSoValue data. That’s helped the spread between ether’s implied volatility and bitcoin’s reach its highest level since late 2022 — a sign traders expect bigger price swings ahead.
Open interest in ether perpetuals on Kraken hit an all-time high of 30,000 ETH this week, said Alexia Theodorou, Head of Derivatives at
