Three Key Reasons Why $ETH Just Hit $4,400
Ethereum ($ETH ) bulls are zeroing in on a new all-time high after the cryptocurrency passed $4,400
(1) •Monster ETF inflows
The most recent surge comes after Ethereum exchange-traded funds (ETFs) topped $1 billion in one-day inflows for the first time on Monday, marking a milestone for the products that officially began trading a little over a year ago.
(2) •Strong corporate adoption
Ethereum is also rallying due to strong corporate adoption, with some companies copying the extremely successful playbook pioneered by Strategy (formerly MicroStrategy). The key companies that are driving Ethereum's corporate adoption include Tom Lee's BitMine Immersion Technologies and Joe Lubin's SharpLink Gaming.
Stablecoin dominance
(3) •Read more on U.Today
Ethereum, of course, also remains the leading chain for stablecoin issuance. The chain accounts for roughly 55% of the entire stablecoin liquidity. As noted by cryptocurrency analyst Miles Deutscher, Ethereum saw eight times more stablecoin inflows than any other cryptocurrency over the past 24 hours.
