In brief
- Ethereum rose above $4,600 on Friday, driven by institutional accumulation from treasury companies and ETF inflows.
- CryptoQuant reports a surge in staking activity, including one whale moving $645 million in ETH specifically to stake it.
- 73% of traders on prediction market Myriad now bet ETH will reach $5,000, up from 61% at the week’s start.
Ethereum could be headed for its strongest cycle yet, according to analysts at CryptoQuant.
At the time of writing, Ethereum has been changing hands for $4,603 after having gained nearly 4% in the past day and over 7% compared to this time last week, according to crypto price aggregator CoinGecko.
CryptoQuant Head of Research Julio Moreno credits institutional demand—from treasury companies and spot ETFs—and a steep uptick in staking as primary drivers boosting the price of ETH.
“This synchronized accumulation indicates that Ethereum is increasingly viewed as a long-term strategic asset by large
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Author: Stacy Elliott
