According to Kaiko Research, the price of Ethereum (ETH) recently hit an annual high of $4,000. Despite briefly outperforming Bitcoin (BTC) after the US election, ETH has yet to test its all-time high of around $5,000 in 2021. However, the price of ETH stabilized around $4,000 last weekend, indicating that it may be on track to test a new price range.
The rise in ETH prices coincides with a pick-up in market interest in ETH ETFs, which last week recorded record inflows. Institutional investors' interest in ETH has increased significantly and they are looking forward to potential earnings in 2025. In addition, ETH could be an important beneficiary of a change in leadership at the Securities Exchange Commission (SEC) that could further boost market demand.
Kaiko: ETH's rise coincides with a pick-up in market interest in ETH ETFs, and a change in SEC leadership could drive market demand
2024-12-11 08:36:11
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