#ETHRally Ethereum (#ETHRally) is on fire! 🚀 Ethereum's price hit $4,600 for the first time since November 2021, approaching its all-time high of $4,800. This rally is fueled by growing treasury holdings and significant ETF inflows.

Key Drivers of the ETH Rally

- *Treasury Holdings*: Companies like BitMine hold over 1.15 million ETH, valued at roughly $5 billion, and plan to expand their holdings.

- *ETF Inflows*: Spot Ethereum funds saw $1 billion in net inflows in a single day, bringing total net inflows to $9.4 billion since July 2024.

- *Pectra Upgrade*: The upcoming Pectra upgrade, including EIP-7251, increases the max stake per validator from 32 ETH to 2,048 ETH, boosting operational efficiency for whales.

Market Indicators

- *Short Liquidations*: Over $120 million in short liquidations occurred as ETH surged past $4,600.

- *Bitcoin Dominance*: BTC dominance fell below 60%, favoring altcoins like Ethereum.