📈 On Tuesday, spot ETFs for ETH grabbed $500 million in fresh money 💵 — and that's just in one day! The front-runner, of course, was ETHA from BlackRock, which has already pulled in $10.5 billion. Institutions are buying up ETH as if it might stop being sold altogether 😏.
💪 ETH has risen by 30% over the week, outpacing all top altcoins. It's currently trading at $4666 — and it's less than 5% away from its all-time high ($4891) 📊. Analysts are already waving their hands and shouting, "$5241 — that's where we'll stop!", while retail… 🤦♂️ is selling. Yes, as usual — everything is the opposite: small traders are taking profits, while the big players are buying.
🏦 Bitmine Technologies even decided to sell shares worth $25 billion just to… buy more ETH 🤷♂️. And you say, "bear market".
📊 Interesting fact: in one day, the network issued 2,428 ETH, while ETFs took 127,403 ETH. That's about 52 times more than was mined ⛏️. So the deficit is quite significant.
🐕 SOL +12.9%, DOGE +7%, ADA +10%, LINK +12% — but against the backdrop of ETH, that's like a cheap snack at a buffet.
Analyst Benjamin Cowen summarized: "This is not the altcoin season. This is the ETH season" 😎.
📆 His forecast: ETH will break its all-time high, and then cool off a bit in September….
