Key Highlights

• ETH prices increased by 10% today, approaching a historic high of $4,867.

• More than $2.3 billion is set to flow into Ethereum ETFs over the next six days.

• Some traders suggest ETH could climb as high as $13,000 if it enters a price discovery phase.

On Wednesday, Ether (ETH) surpassed the $4,600 mark, seeing an 8% rise within just 24 hours.

ETH Prices Poised to Break Previous Records

The ETH/USD pair reached a peak of $4,715 on Wednesday, chasing the all-time high of $4,867 recorded in November 2021, according to data from Coinbase.

A post by Onchain data provider GlassNode noted, “Ethereum bids are getting stronger as assets approach all-time highs.” They also mentioned that ETH has acted as a foundation for other altcoins, with its recent strength bringing about more speculation for further gains.

This surge is driven by renewed investor interest and substantial capital inflow into Spot Ethereum Exchange Traded Funds (ETFs). In the past six days alone, these products have seen an influx totaling $2.3 billion, including a record of $1 billion net inflow on Monday.

Spot ETH ETF Shows Significant Growth

A source indicated a remarkable uptick since early July, stating the Spot ETH ETF has gained nearly $1.5 billion more compared to the Spot BTC ETF. Also, financial firms are reportedly accumulating ETH, with holdings surpassing $16.5 billion.

Leading the charge is Bitmine Immersion Technologies with 1.2 million ETH (approximately $5.33 billion), followed by a gameplay company with 598,800 ETH after a striking 177% growth last month. Meanwhile, another entity holds 345,400 ETH.

A notable point is that over 30% of ETH is locked in staking, meaning those assets are not immediately marketable, which bodes well for potential price increases.

Ethereum Transactions Near Historic Levels

Ethereum hit over 1.87 million daily transactions on Tuesday, totaling around 50 million transactions for July 2025—a significant year-over-year jump.

With a market cap of $95 billion, encompassing 61% of the overall market share, the expanded activity reflects strong demand and utility on the network.

What’s Next for ETH Prices?

Analysts believe ETH’s next significant challenge lies around $4,700, the previous all-time high. This price threshold is also seen as critical, often foreshadowing where selling pressures might rise.

GlassNode remarked that breaking above the $4.7k zone could signal the beginning of a speculative phase. A sustained momentum past $4,750 might ignite a full price discovery process.

Some analysts say that, based on multiple technological setups, ether could soar to levels beyond $10,000. One analyst shared predictions that suggest ETH targets might range from $7,000 to $13,000.

Investor and YouTuber Divxman expressed that though the price target for ETH might be around $7,500, its journey in price discovery could reach as high as $13,000 based on earlier bull runs and current market decline rates.

Cointelegraph also reported expectations that if ETH breaks through the crucial $4,000 level, it could aim for $20,000 in the ongoing bull market.