Ethereum (ETH) is preparing to challenge its all-time high with its recent rise. ETH, which reached its highest level of the year by reaching $ 4,108 on December 16, has gained 8% in the last week, 28% in the last 30 days and 82% in the last year.

The decrease in ETH's stock supply is one of the factors supporting the price increase. According to CryptoQuant data, the ETH balance on stock exchanges has fallen to its lowest level in 8.5 years.

The increase in the number of Ethereum whales shows that large investors continue to accumulate. This could be a positive sign in the long term.

Institutional demand is also increasing. US-based spot Ethereum ETFs have been recording continuous inflows since November.

The ETH price is expected to reach new highs in the coming days. What levels do you think the ETH price can reach? Share your views in the comments.