• Ethereum broke the $3,000 price level recently.
• Over 2.8 million addresses bought ETH at the current price level, making it a key level.

While Bitcoin[BTC] captured headlines with its all-time highs, Ethereum[ETH], often called the ‘digital silver’ also made a notable move. 

The second-largest cryptocurrency by market capitalization broke above the $3,000 mark, a resistance level that had held strong for months.

This breakthrough coincided with record-breaking positive flows in Ethereum’s spot ETF, marking a new phase of bullish momentum.

Can Ethereum sustain this rally as it navigates a new territory?

Record spot ETF inflow fuels Ethereum’s breakout

Ethereum’s ETF flow analysis for the past week revealed a net inflow of $154.66 million. This set a new high for weekly positive flows.

Data from SosoValue showed that this is Ethereum’s second consecutive week of net inflows—a historic milestone for the ETF. 

The largest weekly net flow for Ethereum’s ETF occurred during its launch week, with a negative flow of $341.35 million. Now, the trend has shifted decisively into positive territory, with consecutive inflows supporting ETH’s price rally.

This surge in institutional support has helped ETH break past the $3,000 barrier, bolstering its upward momentum.

Ethereum moves to secure its position above $3k

At press time,
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Author: Adewale Olarinde

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