Ethereum Eyes Historic $5,000 Mark

In the $4,600 range... Soars 30% in a week

Impact of aggressive accumulation by major U.S. investors

Market capitalization at $560 billion, surpassing Netflix

The price of Ethereum, known as the 'leading altcoin,' has been skyrocketing since last month. Some analysts predict it may surpass $5,000 this month.

According to the crypto market information site CoinMarketCap, on the 13th, Ethereum was trading in the $4,600 range, up approximately 8% from the previous day. It's the first time Ethereum exceeded $4,600 in about four years since November 2021. Compared to a week ago, the price has soared nearly 30%. Its market capitalization has neared $560 billion, far surpassing Netflix's market cap of $520 billion.

Ethereum began a full-fledged upward trend last month. On the 13th of last month, it was traded in the $2,900 range, but soared more than 50% in just one month.

Ethereum's dominance (market share) also set a new annual high. According to CoinMarketCap, Ethereum's dominance reached 13.9% on this day, up 2.2 percentage points from 11.7% a week ago. In the same period, Bitcoin dominance fell by 2.6 percentage points from 61.1% to 58.5%.

Institutional investors aggressively bought Ethereum, driving its price rally. U.S.-listed companies such as BitMine and SharpLink Gaming also accumulated Ethereum. Furthermore, the allowance of cryptocurrency investment in the U.S. 401(k) retirement plan and the 'pro-crypto policy' of Donald Trump's possible second administration acted as positive factors.

Industry analysts say there is plenty of room for additional gains. According to leading betting site Polymarket, as of this day, the likelihood of Ethereum surpassing $5,000 this month jumped to 62%, more than doubling from the previous day's 30%.