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Ethereum (ETH) has garnered significant attention recently, with experts and investors alike forecasting a substantial price surge in the upcoming year. Multiple market developments, including a considerable increase in institutional demand, a decrease in exchange supply, and strong technical indicators, provide substantial support for this prediction.
One of the primary driving factors behind the predicted price surge is the marked rise in institutional interest in Ethereum. Inflows into Ethereum-focused exchange-traded funds (ETFs) have surged, with $2.51 billion being poured into the asset as of December 24, 2024. This influx of capital from institutional investors serves as a testament to their growing confidence in Ethereum’s long-term value.
In addition to institutional inflows, Ethereum’s decline in exchange supply further bolsters the argument for a price surge. Data suggests that an increasing number of users are choosing to hold onto their ETH rather than trading it, resulting in a reduction in available supply on exchanges. This decrease in supply, combined with rising demand, creates an environment conducive to significant price appreciation.
Ethereum’s technical outlook also remains optimistic despite recent market volatility. While the asset experienced a brief 1% drop to $3,472 within the past 24 hours, its long-term prospects continue to attract attention from investors and analysts alike. Furthermore, Ethereum is outperforming other major cryptocurrencies like Bitcoin (BTC) and Solana (SOL) in terms of weekly inflows, with weekly inflows reaching a substantial $51.3 million as of late December 2024.
A notable transaction further underscores the growing optimism surrounding Ethereum’s potential. A large-scale investor acquired 20,000 ETH from the Turkish exchange BTCTurk, valued at approximately $69.87 million on December 25, 2024.
Source: www.crypto-news.net
