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Ethereum Jumps Above $4,200 as Big Investors Buy In
Ethereum continued its summer rally on Saturday, rising above $4,200 for the first time in over three years. It’s now just 14% below its record high of $4,800 from November 2021.
Investment firm BlackRock bought 65,167 ETH worth about $272 million, and also picked up 3,089 BTC valued at $360 million.
On the same day, Ethereum ETFs saw $461 million in new investments—more than the $404 million that went into Bitcoin ETFs.
Earlier this month, ETH funds had large withdrawals. Now, interest is rising again, though the market remains unpredictable.
Erik Voorhees, founder of ShapeShift, sold 6,581 ETH for $27 million at a price of $4,161.
Arthur Hayes, co-founder of BitMEX, bought back $10.5 million in ETH after selling some earlier.
Ethereum’s Value Keeps Growing
Ethereum’s total market value is now bigger than Netflix and Mastercard, making it the 22nd-largest asset worldwide. Co-founder Vitalik Buterin now holds over $1.02 billion in ETH, with a total of 240,000 ETH, putting him back in billionaire status.
Experts say the rally is driven by:
Strong demand for Ethereum ETFs
Big companies adding ETH to their balance sheets
Hopes that breaking past old highs will bring in more investors
Analysts warn that the fast rise might lead to quick sell-offs and price swings, which are common in crypto markets.
#Ethereum
#ETH4500Next?
#ETH🔥🔥🔥🔥🔥🔥
Ethereum continued its summer rally on Saturday, rising above $4,200 for the first time in over three years. It’s now just 14% below its record high of $4,800 from November 2021.
Investment firm BlackRock bought 65,167 ETH worth about $272 million, and also picked up 3,089 BTC valued at $360 million.
On the same day, Ethereum ETFs saw $461 million in new investments—more than the $404 million that went into Bitcoin ETFs.
Earlier this month, ETH funds had large withdrawals. Now, interest is rising again, though the market remains unpredictable.
Erik Voorhees, founder of ShapeShift, sold 6,581 ETH for $27 million at a price of $4,161.
Arthur Hayes, co-founder of BitMEX, bought back $10.5 million in ETH after selling some earlier.
Ethereum’s Value Keeps Growing
Ethereum’s total market value is now bigger than Netflix and Mastercard, making it the 22nd-largest asset worldwide. Co-founder Vitalik Buterin now holds over $1.02 billion in ETH, with a total of 240,000 ETH, putting him back in billionaire status.
Experts say the rally is driven by:
Strong demand for Ethereum ETFs
Big companies adding ETH to their balance sheets
Hopes that breaking past old highs will bring in more investors
Analysts warn that the fast rise might lead to quick sell-offs and price swings, which are common in crypto markets.
#Ethereum
#ETH4500Next?
#ETH🔥🔥🔥🔥🔥🔥
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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