Simply put
- Ethereum prices hit $4,000 on major exchanges on Friday.
- The coin has seen a revival lately, primarily due to the increase in the ETH Treasury.
- This week, there has been a notable uptick in Ethereum blockchain activity.
Ethereum’s price reached $4,000 for the first time since December during trading on major exchanges. This surge can be attributed to an increasingly favorable environment for cryptocurrency and blockchain trading.
The second-largest digital currency has been lingering just below this price recently. After a 4% increase within 24 hours, data from Coingecko noted that Ethereum hit the $4,000 milestone on Coinbase, the largest crypto exchange in the U.S.
Interestingly, Ethereum’s gains have outpaced Bitcoin, the leading cryptocurrency by market value, which only saw a slight increase, trading around $116,600. However, Bitcoin didn’t match XRP’s 7.6% gain, while major altcoins like Solana showed modest increases.
Still, Ethereum remains about 18% down from its all-time high of $4,878 reached in 2021.
Over the past month, Ethereum has appreciated more than 50% as the ETH Treasury has expanded significantly. Companies like Bitminimersion, backed by Peter Thiel, and Sharplink Gaming have been accumulating substantial amounts of ETH, with investments of $2.9 billion and $1.9 billion, respectively.
This approach resembles a micro-strategy previously adopted for Bitcoin purchases that started in 2020 after a challenging period marked by low stock prices. The strategy now holds over 628,791 BTC, valued at approximately $72 billion.
Even as staking rises, trading activity on the Ethereum network continues to climb, fueled by increasing investor optimism about its potential uses, alongside regulatory decisions that have generally favored the crypto sector.
Recent polling data showed that a significant 76% of participants expect Ethereum transactions to surpass 12 million in the week ending August 10.
In the meantime, U.S. investors have been gathering ETH Exchange-Traded Funds (ETFs), which have amassed over $9.3 billion in net inflows since they launched last year, according to the UK-based asset manager, Farside Investors.
