Ethereum (ETH) is again approaching close to the $ 4000 brand. The second largest cryptocurrency after market cases has collected 6% over the past 24 hours, 5.5% in the weekly lists, 7.1% in the 14-day diagrams, 50% compared with the previous month and 60.5% since August 2024, According to Cooiestecko’s ETH data.
What does Ethereum drive against $ 4000?
ETH’s latest rally comes in the middle of a market -wide rebound. Bitcoin (BTC) has recycled the price of $ 116,000. The Global Crypto Market Cap is also close to $ 4 trillion brand. Rally is probably due to President Trump allowing pension funds to invest in crypto assets.
ETH’s Rally is also probably driven by consistent ETF inflows. Blackrock and other financial institutions have bought significant amounts of ETH in recent months. Business funds also end up at ETH and BTC.
Also read: $ 5K on the horizon? Ethereum forms classic bull pennant
According to CoinCox ETH analystsEthereum will break the $ 4000 mark on August 11. The platform expects ETH to continue to collect in the coming months. Coincex predicts ETH to meet a new highest time of $ 6353.11 on October 19 this year. Beating $ 6353.11 from current price levels will mean a rally of about 62.74%.
