TLDR
- ETH surged to nearly $3,000, its highest price in over four months
- Strong ETF inflows exceeded $500 million month-to-date
- Corporate treasuries expanded beyond Bitcoin to include ETH
- CME Open Interest reached $3.27 billion, highest since February
- Technical analysis shows minimal resistance ahead toward $3,000
Ethereum’s native token ETH broke through $2,800 on Thursday, reaching its highest price in more than four months. The cryptocurrency gained 6.7% in 24 hours, approaching the psychological $3,000 level.
The surge came as Bitcoin reached new record highs above $110,000. ETH has lagged behind Bitcoin and Solana during this market cycle but recent developments suggest a shift in momentum.
U.S.-listed spot Ethereum ETFs recorded strong demand with over $500 million in inflows month-to-date. This institutional interest marks a change from earlier periods of muted activity.
Corporate treasury strategies have expanded to include ETH alongside Bitcoin. Companies like Sharplink Gaming and Bitmine Immersion Technology recently added the asset to their balance sheets.
Growing Institutional Activity
Chicago Mercantile Exchange data shows Open Interest reaching $3.27 billion, the highest level since February 2, 2025. This metric indicates increased institutional capital flowing into Ethereum markets.
ETH spot ETFs saw $211 million in purchases on Thursday alone. This represents the largest single-day accumulation since June 6, when institutions bought over $240 million worth of ETH.
Market strategist Joel Kruger from LMAX Group noted ETH’s growing role in settlement and tokenization infrastructure. Derivatives activity has also picked up alongside the price rally.
Technical analysis reveals ETH jumped 6% in a single hour between 20:58 and 21:57 UTC. The move occurred in three distinct phases, breaking through multiple resistance levels.
Path to $3,000 Faces Limited Resistance
IntoTheBlock data shows only two resistance levels ahead with relatively low sell volumes of 3.44 million and 3.42 million ETH. These levels sit between $3,222 and $4,816.
Support zones have formed around $2,750 according to market analytics. The $2,756 and $2,761 levels acted as foundations during the recent trading session.
Retail investors appear to be holding rather than selling. The number of depositing addresses on centralized exchanges dropped to 23,000 and continues trending downward.
Exchange reserves present one cautionary signal, rising to 18.9 million ETH. However, declining depositing addresses suggest this may not immediately impact prices.
The rally established robust high-volume resistance at $2,993. Breaking this level could open the path toward $3,000 and beyond.