[Analysis] "Institutional buying of Ethereum exceeds new supply…$4,500 target also possible"

Institutional buying interest in Ethereum (ETH) appears to have expanded sharply. At the same time, broad improvements in on-chain indicators are also boosting expectations for further gains in the near to medium term.

On the 16th (Korea time), digital-asset news outlet Cointelegraph reported that spot Ethereum exchange-traded funds (ETFs) saw net inflows of about $474.6 million over the past four trading sessions.

The average daily net buying by institutional investors is also increasing. According to Capriole Investments, institutions’ net purchases of Ethereum—including ETFs and digital asset trusts (DATs)—amount to an average of 6,964 ETH per day. This exceeds Ethereum’s current daily issuance.

Network metrics are also strong. According to on-chain data analytics firm Nansen, the number of daily active Ethereum addresses over the past 30 days rose 53% to about 996,000—its highest level in roughly 28 months. Transaction count also hit 2.9 million, setting a new all-time high.

Against this backdrop, market experts are increasingly pointing to the potential for further upside in Ethereum. Crypto analyst Crypto Rover said, "A symmetrical triangle pattern has been spotted in Ethereum," adding, "The price target for the triangle pattern is $4,500."