Ethereum Price Eyes $3.5k Next Fueled By Renewed Demand from Institutional Investors

Ethereum price has formed a macro bottom akin to the pre-2021 parabolic rally. On-chain data analysis shows the Ethereum network has received renewed interest from institutional investors. The odds of altseason 2025 having started are high with Ether price above $3.1k against. Ethereum (ETH) price has soared above $3,140 for the first time in 23 weeks on Wednesday, July 16. The large-cap altcoin, with a fully diluted valuation of about $378 billion, surged 5.53% in the past 24 hours to trade at about $3,141 on Wednesday during the early European trading session. After having experienced a significant resistance level around $2.6k in the past two months, Ether price has confirmed a successful weekly bullish breakout. The Ether price surge above $3.1k, amid the ongoing Bitcoin (BTC) price discovery, has coincided with a sharp uptick in Ethereum’s Open Interest (OI) above $46 billion for the first time since its inception. Ethereum Demand from Institutional Investors Grows Exponentially The demand for Ethereum has grown rapidly in the recent past fueled by institutional investors’ shift from Bitcoin. For instance, BitMine Immersion recently increased… The post Ethereum Price Eyes $3.5k Next Fueled By Renewed Demand from Institutional Investors appeared first on Coin Edition .

Source: Coin Edition