Ethereum Breaks Single-Month Record: Up 56% in Last 30 Days
Ethereum (ETH) is smashing it on the price charts over the last 30 days, up over 56% in that span and breaking its single-month growth record. The price soared from $2,468 at the start of the month to $3,862, with analysts pointing to a wave of inflows into spot Ethereum ETFs as the primary catalyst. At press time, ETH currently sits at $3,750, but several analysts have raised their forecasts for the cryptocurrency. Bloomberg’s Eric Balchunas likened Ethereum’s current trajectory to the rise of 90s tech stocks, driven by explosive adoption and investor excitement. Over a 19-day stretch in July, spot ETH ETFs pulled in $5.37 billion, including a single-day high of $727 million. Ethereum’s Big July Before breaking the monthly record, Ethereum had gained a tremendous leap, breaking away from resistance prevalent at various $2K+ price levels. Moreover, Ethereum is leveraging current market momentum, which is set to reshape its identity for the newer dimensions. ETH is currently surgi...