Ethereum is making headlines again. In the last 24 hours, ETH price jumped by 6.5%, outperforming major cryptocurrencies like Bitcoin (BTC), XRP, and Solana (SOL). This bullish momentum coincides with a massive spike in trading volume for BlackRock’s spot Ether ETF, ETHA.
Ethereum is currently trading at $2,790.78, after gaining more than 6% in a single day and 7.3% over the past week. Experts believe a clean breakout above the $2,750 resistance zone could spark another sharp rally.
While ETH is slightly down by 0.2% in the last hour, overall momentum remains strong, especially as institutional interest is pouring in.
BlackRock’s spot Ether ETF (ETHA) is now the top ETH-backed ETF by market cap, sitting at $5.06 billion. It currently holds over 1.83 million ETH, with a 7-day increase of +2.52% (45,182 ETH), according to Coinglass.
Investor appetite is rising. Since July 7, more than $320 million has flowed into Ethereum ETFs.
Ethereum’s latest price surge is backed by real institutional demand. With BlackRock’s ETH ETF setting new volume records and investor inflows climbing daily, ETH could be gearing up for its next big breakout.
Ethereum’s price is up today due to a combination of factors: surging institutional demand through spot Ether ETFs (like BlackRock’s ETHA), reduced circulating supply from staking and token burns, and positive macroeconomic tailwinds.
Strong indicators include high institutional demand, record ETF inflows, rising 30-day trading volume, and a clear breakout above the $2,750 resistance zone, suggesting potential for a significant rally.
As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.
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