Ethereum has recently surpassed $4,300, confirming its upward trend and nearing its all-time high. This surge coincides with strong fundamentals, including increased network activity, growing institutional adoption, and historically low exchange reserves, indicating a tightening supply that could drive prices higher. On-chain data reveals that ETH reserves on exchanges have dropped to unprecedented levels, suggesting many coins are being moved to long-term deposits or staked, reducing liquidity for traders. Analyst Ted Pillows noted a significant purchase by a mysterious institution, spending $212 million on ETH, part of a broader trend of large investors accumulating the asset. In the past week alone, whales have amassed $946.6 million in Ethereum, reflecting growing confidence among affluent investors. Companies like SharpLink Gaming are also making substantial ETH purchases, reinforcing Ethereum's status as a strategic asset. Analysts predict Ethereum could reach $6,400 in the medium term, with more optimistic forecasts suggesting potential highs beyond $10,000, driven by solid fundamentals and institutional flows. Read more AI-generated news on: https://app.chaingpt.org/news

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