Ethereum's Strong Recovery: ETF Drives Market Price Increase Over 50%, Active Wallet Addresses Exceed 152 Million
Ethereum (ETH) is experiencing a significant recovery, with a price increase of over 50% in less than four weeks, marking the first time in over six months that the ETH price has surpassed $3,600.
Analysis firm Santiment noted that this strong momentum has not only raised prices but also pushed the number of wallets beyond 152 million, making it the largest user base in the cryptocurrency space. This milestone itself indicates that the Ethereum network has built the largest and most active ecosystem in the cryptocurrency field.
The forces driving this wave of growth include both financial support and an increase in community sentiment.
Among these, the Ethereum spot ETF attracted a record net investment of over $726 million since July 16, with BlackRock's fund ETHA alone seeing a net inflow of $499 million in a single day, injecting strong confidence into the market. Institutions such as Fidelity's FETH and Grayscale's ETH have also reported substantial capital inflows, with institutional holdings of ETH now increasing to 1.6 million coins, valued at over $5.76 billion.
Market intelligence data indicates that this positive influx of funds has also ignited community enthusiasm. Discussions related to ETH have surged, making it the most popular cryptocurrency asset on X, Reddit, and Telegram in the past 24 hours, with discussion content largely reflecting bullish sentiment, aiming for $4,000.
Currently, Ethereum's market performance remains strong. According to CoinGecko data, the current trading price of ETH is approximately $3,594, up 7.9% in 24 hours, and with a seven-day increase of 21.2%, significantly outperforming Bitcoin's increase of 6.5% during the same period.
Meanwhile, market observers are beginning to reassess the positions of the two assets. A report from SwissBlock indicates that the ETH/BTC ratio is steadily rising, showing that the liquidity appeal of ETH is strengthening, entering the next phase of this cycle.
As analysts emphasize, the market's fear of missing out (FOMO) is attracting the public's general shift towards Ethereum (ETH). This sentiment is particularly evident in the current market environment, with many expecting its price to soon reach $4,000, and some opinions suggesting that if BTC's market share continues to decline, ETH may aim for a historical high above $4,800.
