according to materials from the site -
By Tokentopnews.com
The price of Ethereum rose above $4550, reflecting the activation of institutional investments and renewed macroeconomic optimism, despite sparse direct comments from leadership, such as Vitalik Buterin.
This jump underscores the market influence of Ethereum and its potential for further growth, impacting stakeholders amid the activation of institutional participation and favorable regulatory conditions.
The increase was driven by a significant inflow of funds into ETFs, substantial institutional demand, as well as favorable macroeconomic and regulatory factors. Despite the price rise, there have been no official statements from Ethereum's leadership or founders, such as Vitalik Buterin.
The rally was mainly associated with institutional investors, as evidenced by an inflow of over $3 billion into ETFs from well-known companies like Bitmine and Sharplink. Notable traders, such as 'Maji Da Ge', drew attention with significant spot orders, while AguilaTrades achieved an impressive unrealized profit of $1.38 million.
The rise in price had a noticeable impact on market activity: Ethereum traded at around $4550, indicating significant growth since the beginning of the year. Comparisons showed that Bitcoin lagged behind, missing a similar jump. Despite this, the expected chain impact on Ethereum-based assets or total value locked (TVL) in DeFi protocols has not been confirmed by original sources.
Historically, Ethereum rallies are often driven by macroeconomic events and regulatory changes. Unlike previous jumps caused by the retail sector, this movement has been marked by an institutional component, indicating consistent trends in capital movement. Future price forecasts vary, with analyst Greg Magadini suggesting potential targets in the range of $8000 to $10,000. 'I wouldn't be surprised to see a figure of $8000–10,000 or more at some point...' — Greg Magadini
