Analysis: 'ETH May Break $5,000 if Investment Demand Continues to Increase' CryptoQuant, a cryptocurrency on-chain analytics provider, analyzed in its weekly crypto report that "Ethereum (ETH) investor demand is increasing and network activities continue to rise. It may break $5,000 if the current demand continues." The report explains that "ETH spot ETFs' holdings have increased from 3.095 million ETH at the start of their launch in July last year, to the current 3.41 million ETH level, indicating recovering investor confidence and rising demand. ETH's daily transaction activities have also risen to around 6.5-7.5 million in 2024 from around 5 million in 2023. The upper limit of the ETH Realized Price Band (the average price at which holders purchased their ETH) is currently around $5,200, the level of the 2021 bull market peak. The upper band has continued to rise as new market participants continue to buy ETH at higher prices." ---

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