Ethereum Moving Closer to $4,000, New All-Time High Soon?

Ethereum Nears $4,000 Amid ETF Speculation

Ether (ETH) is approaching the $4,000 threshold, fueled by speculation that the recent ETF approval could ignite a substantial price rally.

At press time, Ethereum was trading at $3,922, with a 79.91% surge in trading volume, reaching $17.95 billion. Its market capitalization currently stands at approximately $470.41 billion.

ETH/USD, 24hrs Price Chart, Source: CoinMarketCap

Arthur Cheong, founder of DeFiance Capital, suggested in a May 26 post on Twitter that ETH could potentially reach $4,500 before the actual launch of spot ETFs.

4.5k before spot ETF go live for trading imo.
— Arthur (@Arthur_0x) May 26, 2024

Crypto analyst Rekt Capital also believes that Ethereum must close the week above $3,956 to potentially surpass the $4,000 mark.

Historically, Bitcoin experienced a similar trajectory, surging over 70% to new highs within two months after its ETF approvals. If Ether follows this pattern, it could reach new peaks around $6,000 by the end of July.

Ethereum's Layer-2 networks are also witnessing robust financial activity, with the total value locked approaching a record high of $47 billion. With a market cap of $469 billion, both crypto investors and major Ethereum stakeholders are optimistic about the potential surge in institutional investments following recent ETF approvals.

Also read: Pepe Surges 130% in May, Flips Polygon in Market Cap