Institutional Demand Lifts ETH Above $3K; Hayes Targets $10K
Ethereum (ETH) has reclaimed the $3,000 level for the first time since early 2025, with 79.96% of its supply trading above breakeven according to Santiment. This price recovery, paired with a two-day 8% gain and a 44% surge in volume to $41.36bn, underscores growing bullish momentum. BitMEX co-founder Arthur Hayes now predicts ETH could hit $10,000, driven by rising institutional adoption. Major firms such as GameSquare and SharpLink Gaming are investing hundreds of millions via treasury strategies. SharpLink’s purchase of 10,000 ETH—following the Ethereum Foundation’s OTC sale—confirms ongoing staking demand. While strong on-chain profitability may attract new inflows, traders should watch for resistance near $3,100 and potential profit-taking. Longer-term catalysts include expanding DeFi and NFT ecosystems and upcoming network upgrades. Traders should monitor on-chain metrics to navigate near-term volatility and capitalize on Ethereum’s optimistic outlook.
Bullish
The news is bullish for Ethereum. Short-term, the break above $3,000 with strong volume and 80% of supply in profit suggests sustained buying pressure. Institutional treasury purchases by GameSquare and SharpLink Gaming, alongside Hayes’ $10,000 price target, are likely to attract further capital inflows. However, traders should watch resistance around $3,100 and potential profit-taking. In the long term, expanding DeFi/NFT ecosystems and network upgrades add fundamental support, reinforcing a positive outlook and potential for continued upward momentum.