The Surging Ethereum Buying Trend... Growing Expectations for a Rise

Cryptocurrency A to Z

Ethereum Hits $3,000

Driven by Whale and Global Buying Pressure

Expectations for Upside Intensify

Anticipation for Benefits Amid Pro-Crypto Policy

As capital continues to flow into investment products related to Ethereum, the price of Ethereum is showing an upward trend. In some quarters, there is also hope for further gains as more companies in the United States accumulate Ethereum.

According to Upbit, a domestic cryptocurrency exchange, on the 13th, Ethereum reclaimed the 4 million KRW range for the first time in about five months since February this year. On global markets, it has also surpassed $3,000.

A major factor behind the heightening expectations for a price increase is the substantial wave of buying directed toward Ethereum. CoinShares reported, "Last week, there was a net inflow of $226 million into global Ethereum investment products, marking 11 consecutive weeks of inflows," and "During that period, the funds flowing in amounted to $2.85 billion, showing that investors prefer Ethereum over Bitcoin."

The buying activity by large investors called "whales" was also robust. According to cryptocurrency analyst Ali Martinez, whales purchased over 200,000 new Ethereum in just the past week.

The trend of US-listed companies stockpiling Ethereum further fueled expectations for an increase. On the 7th, Bit Digital, a company listed on the Nasdaq Stock Market in the United States, sold all of its Bitcoin holdings and bought Ethereum, pushing its total holdings to over 100,000 Ethereum. Sharplink Gaming also bought an additional 12,761 Ethereum this week.

The overall environment surrounding Ethereum is also supporting positive sentiment. There is talk that the possible passage of pro-crypto legislation such as the stablecoin act, GENIUS Act, and the growth of the real-world assets (RWA) market could greatly impact Ethereum's long-term rise. Asset management firm Grayscale commented, "Laws like the GENIUS Act clarify stablecoin regulations while accelerating investment expansion and the adoption of smart contracts." Tom Lee, co-founder of Fundstrat, predicted, "If the world starts to embrace the potential of RWAs, Ethereum could climb to $10,000."

Son Min, BloomingBit journalist sonmin@bloomingbit.io