Ethereum is making noise once again, with the price of Ethereum steadily rising and Ethereum analysts whispering about a potential all-time high on the horizon.
Momentum is building rapidly, fueled by rising adoption, a surge in ETF inflows, and changing political dynamics. These factors accumulate together to put Ether in a position for near-term gains and long-term dominance.
Active addresses on Ethereum surge by 36% on a monthly basis
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The bullish pulse is impossible to miss, with active blockchain addresses up 36% over the past month. The numbers don’t lie – 306,000 to 417,000 participants is no small increase; It’s proof of a network that’s firing on all cylinders.
The rally was not driven by hype but is a clear signal that organic demand is driving adoption – a symptom of the ongoing rally.
CryptoQuant expert Burak Kesmisi noted that this growth reflects renewed interest from retail and institutional users, fueling a new wave of optimism across the Ethereum ecosystem.
“This growth indicates organically renewed interest and increased user engagement,” Kismichi noted. “The correlation between active addresses and price development shows real demand, distinguishing it from speculative cycles of the past.”
This rally couldn’t have come at a better time, as Ethereum is building momentum to potentially surpass its all-time high.
Bullish momentum behind Ether and Ethereum ETF inflows
In addition to the surge in user activity, Ethereum is also benefiting from large inflows of cryptocurrency-related ETFs. Recent data revealed $1.41 billion flowed into spot ETFs, paving the way for continued interest from institutional players.
These flows are believed to provide much-needed price stability and provide a solid foundation for Ethereum’s upward movement.
#Ethereum It could erupt any moment now.
pic.twitter.com/YkOfZrb66N
— Crypto Rover (@rovercrc) December 9, 2024
Fellow trader Poseidon echoed similar sentiments, predicting that Ethereum could break out of a long-term range to achieve much higher levels.
Find out: The best way to accumulate Ethereum in 2024
Favorable political winds boost market sentiment
The US election results have also contributed to the recent rise in Ethereum’s price. The victory of a crypto-friendly president has restored investor confidence in financial markets. This sentiment and the 70% rise in Ethereum prices since November helped Ethereum stabilize at around $4,000 – its highest point in nine months.
Political clarity and favorable regulatory prospects provide Ethereum with a much-needed runway to attract new capital and users. Analysts believe these conditions could pave the way for an “alternate season” by early 2025, with Ethereum leading the charge toward a broader market recovery.
Technically, Ethereum appears to be poised for a significant move. Current resistance is $3,800, a $99 level that Bitcoin analysts say could pave the way for a retest of the all-time high at $4,878. Further support for this bullish narrative comes from increasing ETF inflows and growing retail participation, indicating enduring confidence among investors.
With Ethereum already showing structural changes and consistent upward momentum, some experts believe that a 24% weekly gain to reach a new high is not out of the question. Others speculate that institutional buying of ETFs and increased inflows would spur sustained price appreciation.
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Will Ethereum price break records?
(ETHUSDT)
Ethereum has achieved all-time negativity this year, raising the possibility of seeing a major reversal.
The foundations of Ethereum have never looked clearer. A powerful network, a swelling user base, and overall conditions tilted in its favor stack the Ether deck. Granted, nothing is set in stone, but the ground beneath it seems firm enough for another historic tour.
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