Ethereum News Today: Ethereum Surges 10% in 24 Hours as ETF Inflows Hit $2.3 Billion

Ethereum (ETH) is approaching its all-time high of $4,867, with recent market dynamics and on-chain activity signaling a potential price discovery phase. The cryptocurrency has seen a 10% surge in a single day, trading above $4,600 and recording an 8% increase in the last 24 hours. This upward movement is supported by strong investor demand and sustained inflows into spot Ethereum ETFs. Over the past six days, these ETFs have attracted more than $2.3 billion, including a record $1 billion inflow on August 11. Analysts and market observers note that this trend mirrors broader altcoin activity, with Ethereum serving as a leading indicator for the sector [1].

The surge is further reinforced by increasing staking activity and growing institutional accumulation of ETH. Treasury companies now hold over $16.5 billion worth of ETH, with BitMine Immersion Technologies being the largest holder at 1.2 million ETH. The increased staking ratio—exceeding 30% of the total supply—also limits immediate sell pressure, contributing to a bullish price environment [2].

Ethereum’s on-chain metrics and network usage also reflect strong utility and demand. Daily transaction volumes reached a near-record high of 1.87 million on August 12, while the total value locked (TVL) in decentralized finance (DeFi) applications stands at $95 billion, representing 61% of the DeFi market. This growing network activity suggests that Ethereum is being increasingly adopted for real-world applications beyond speculation [3].

Key technical indicators point to a potential breakout. According to on-chain analytics firm Glassnode, the $4,700 level is a critical resistance point based on the active realized price of ETH. A decisive move above this level could trigger a more speculative phase, as highlighted in their latest onchain report. Cryptoquant analyst CryptoOnchain also noted that sustained transaction volume combined with a price breakthrough above $4,750 could initiate a price discovery phase [4].

Price projections for ETH vary, but multiple analysts have expressed optimism. Jelle, a well-known market analyst, presented a bullish megaphone pattern suggesting ETH could reach between $7,000 and $13,000. Meanwhile, investor and YouTuber DivXMaN stated that, based on historical bull market trends and diminishing returns, ETH could potentially climb as high as $13,000 if it successfully breaks through the $4,700 level. These forecasts, however, remain speculative and based on technical patterns [5].

As Ethereum nears psychological and technical milestones, the market remains closely watching ETF inflows, staking dynamics, and broader adoption metrics. The combination of these factors suggests a high likelihood of further upward momentum in the coming weeks, especially if the network maintains its current level of transactional and financial utility.

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[1] https://en.coinotag.com/ether-approaches-all-time-highs-as-bullish-indicators-suggest-potential-for-price-discovery/