Ethereum hits six-month high fueled by ETF inflows and strong on-chain growth.
- ETH rose over 10% in 24 hours to reach $3,481 on Binance.
- Spot ETH ETFs drew $727 million in one day, lifting institutional demand.
- Rising active addresses and TVL signal growing network strength.
ETH Price Boosted by Record ETF Inflows
Ethereum’s price jumped to $3,481, its highest level since early January 2025. This increase came after large capital inflows into spot ETH exchange-traded funds (ETFs). In just one day, ETH ETFs attracted $727 million. Half of that came from investment giant BlackRock.
Over the last five days, spot ETH ETFs have attracted more than $1.76 billion. As of this week, ETF providers now hold about 4% of Ethereum’s total supply. Analysts say this heavy investment shows growing trust in Ethereum among major investors.
Strong Growth in Ethereum Network Usage
Ethereum’s network activity is also rising fast. Daily active addresses reached 463,880, up 6.7% in just one day. Over 1.49 million addresses were active on Thursday, a 9.4% increase over the last month.
Ethereum’s daily network fees climbed to $3.11 million, a 475% jump since July 5. Weekly fees increased 139% to $14 million. These numbers show greater demand for Ethereum transactions and apps.
This demand pushes the total value locked (TVL) in Ethereum-based apps to new highs. TVL rose 36% in just three weeks, hitting $78.2 billion. Ethereum now holds 58% of the total market among layer-1 blockchains.
RSI Indicator Suggests Price Target of $10K
Analysts are pointing to Ethereum’s relative strength index (RSI) as a key signal. In April, RSI dipped to 40, often seen as a “buy” level. Similar past signals led to major ETH price gains: 1,360% in 2021 and 350% from 2023 to 2024.
Crypto analyst Mikybull Crypto believes ETH could rise to between $7,000 and $10,000 before this current cycle ends. Other experts agree, citing a bullish long-term trend and growing institutional interest.
With ETF growth, stronger network activity, and technical signals all aligning, Ethereum may be on track for even higher prices in the months ahead.
Source: cointelegraph.com
