CryptoQuant said that institutional investors want more Ethereum, and this demand could push the token's price above $5,000 for the first time.
According to a new report, Ethereum could soon break through $5,000 due to increased institutional demand, which would mark an all-time high for the second-largest cryptocurrency by market cap. Not only that, but on-chain activity is also active, CryptoQuant said. The firm said in a report on Thursday that the inflow of funds into the new ETH exchange-traded fund (ETF) has set a record.
Global investors pumped $1.20 billion of new money into Ethereum funds last week, a record set just months after spot ETH funds began trading in the United States.
CryptoQuant: Ethereum price could break through $5,000 due to increased institutional demand
2024-12-12 23:37:45
Cryptoquant representation institutions investors ethereum this demand maydesk3cryptocurrencydesktopCrypto News
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