Exciting news! Ethereum breaks $3600, reaching a new high since June!
ETH broke through $3600 this morning, rising more than 8.5% in the past 24 hours, reaching a peak of $3680, a new high since June.
As a result, mainstream coins in the Ethereum ecosystem have seen a widespread rise. ENS broke $33, with an increase of over 50%. OP broke $2.4, with an increase of 11.2%. ZK broke $0.18, with an increase of 11.7%. STRK broke $0.65, with an increase of 12%.
Could this be Ethereum's "second wave bull"? I think it is highly likely.
First of all, according to historical data, Ethereum has always experienced two rounds of increases during past cryptocurrency market bull runs, with the second bull market cycle always significantly exceeding the price set during the first bull market cycle.
Additionally, yesterday, the net inflow of the US Ethereum spot ETF was $90.1 million, with Fidelity ETF FETH seeing a net inflow of $38.01 million in one day; Grayscale ETF ETHE saw a net inflow of about $37.29 million in one day; VanEck ETF ETHV saw a net inflow of about $13.25 million in one day; Bitwise ETF ETHW saw a net inflow of about $1.56 million in one day. This indicates that institutional funds are not easing off their investment in Ethereum and are intensifying their layout.
Another piece of good news is that the Ethereum spot ETF is also expected to introduce staking features, which would enhance the attractiveness of this investment product and further boost ETH's strength.
Just last week, Gary Gensler, the SEC chairman who is viewed as an opponent of cryptocurrency regulation, announced he would resign on January 20, 2025, which further increases the likelihood of the Ethereum spot ETF introducing staking features.
In short, Ethereum has finally been rotated into the spotlight, living up to the expectations of thousands of fans.
