Ethereum ETF buying rebounds! Analyst: This wave may break through $5000

The foreign media "The Block" cited the views of CryptoQuant analysts in its report, pointing out that if the current supply and demand dynamics remain unchanged, driven by on chain valuation indicators and investors' renewed interest in Ethereum (ETH) related financial products, Ethereum prices may achieve significant growth. CryptoQuant analysts stated in an interview:

According to valuation indicators, if the current supply and demand trend continues, Ethereum may break through $5000

Analysts point out that the implementation price range of Ethereum is one of the key indicators in its evaluation. The implementation price refers to the average transaction price of Ethereum in historical transactions. At present, the upper limit of the price range is $5200, reflecting the peak price of Ethereum during the bull market in 2021. Analysts point out that as new buyers purchase Ethereum at higher prices, this price ceiling will continue to rise, suggesting further upward potential in the current market cycle.

On the other hand, the recovery in investor demand has been particularly evident in the strong growth of US Ethereum spot ETFs, especially BlackRock's ETHA ETF and Fidelity's FETH ETF, which have seen significant inflows of funds this week. According to cryptocurrency data tracking platform Arkham, the ETFs of BlackRock and Fidelity jointly purchased $500 million worth of Ethereum on Tuesday and Wednesday of this week, indicating the continued interest of institutions in Ethereum as a digital asset and investment tool.

On Wednesday, the net inflow of Ethereum spot ETF reached $102 million, marking the 13th consecutive day of net inflow. During these 13 days, the Ethereum ETF attracted a cumulative inflow of $1.95 billion, increasing the total net asset value to $13.18 billion, equivalent to 2.86% of Ethereum's market value.