The price of Ethereum (ETH) has gained 7% in the last 24 hours and risen above $3,000, its highest level in more than four months.
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Ethereum, the second largest crypto by market capitalization, is surging alongside market leader Bitcoin (BTC). Bitcoin has hit successive new all-time highs in recent days and is now trading above $118,000, a record level. The rally in BTC is lifting the entire crypto market higher, with Ethereum a prime beneficiary.
Market data shows that institutional investors purchased $211 million worth of Ethereum in the past 24 hours, the largest amount since early June. At the same time, Ethereum is getting a lift from inflows to exchange-traded funds (ETF), which have totaled more than $500 million so far in July, with strong demand from both institutions and individual retail investors.
Options Action
Options traders are taking out increasing bets that Ethereum’s price will hit $4,000 by September of this year. Another tailwind for ETH is corporate buying, with a growing number of corporations expanding their cryptocurrency treasury strategies beyond Bitcoin to also include Ethereum.
Expectations for a September rate cut from the U.S. Federal Reserve and bullish sentiment among retail investors are also underpinning the rally in crypto, say analysts. Despite the big recent rally, Ethereum remains down 23% so far in 2025 following a sharp selloff earlier in the year.
Is ETH a Buy?
Most Wall Street firms don’t offer ratings or price targets on cryptocurrencies such as Ethereum, so we’ll look instead at its three-month performance. As one can see in the chart below, the price of ETH has risen nearly 60% in the last 12 weeks.
