Ethereum Market Cap Hits $570B with ETF-Driven ETH Rally
Ethereum’s market capitalization soared from $520 billion to a record $570 billion as ETH rallied from $4,313 to about $4,700. Ethereum gained 55% over the past month, far outpacing Bitcoin. Strong ETF inflows—$461 million in daily net purchases—alongside large corporate treasury buys by BitMine, Fundamental Global and Sharplink Gaming, fueled the rally. On-chain data shows average transaction size jumped 430%, indicating heightened whale activity and increased retail participation. Major investors accumulated over 221,000 ETH this week, including a single 49,533 ETH purchase and 1,250 ETH by Arthur Hayes. Technical indicators point to bullish momentum. ETH faces resistance near the upper Bollinger Band at $4,758. A daily close above this level could open the path toward $5,000. However, an RSI of 79.3 warns of short-term profit-taking, with support around $3,889. Traders should monitor ETF flows and treasury purchase announcements for direction.
Bullish
Strong ETF inflows and large corporate treasury purchases signal robust demand for ETH, driving bullish momentum. Whale accumulation further reinforces upside pressure, as on-chain data shows. Technical breakouts and bullish patterns suggest potential tests of higher targets like $5,000 and beyond. While an elevated RSI may cause short-term profit-taking, the overall combination of institutional demand, whale activity and positive technical indicators supports a bullish outlook for ETH in both the short and long term.