Ethereum Approaches $3,000 as Sentiment Turns Positive, ETF Inflows Surge

Ethereum’s ether (ETH) soared Thursday to its highest level in more than four months, fueled by bitcoin’s surge to new record highs and renewed optimism for ETH itself.

The world’s second-largest cryptocurrency by market value rallied nearly 6.7% over the past 24 hours, climbing to just below the $3,000 mark.

Despite lagging behind bitcoin and Solana (SOL) throughout this market cycle—and still falling short of its own all-time highs—the outlook for ETH has started to brighten in recent weeks.

“ETH has taken the lead in price momentum, rallying off recent lows amid a pickup in derivatives activity and growing enthusiasm around its broader role in settlement and tokenization infrastructure,” said Joel Kruger, market strategist at LMAX Group.

Supporting the rebound, U.S.-listed spot ETH ETFs have attracted more than $500 million in inflows so far this month, signaling rising institutional interest.

Meanwhile, corporate treasury strategies are expanding beyond bitcoin, with publicly traded companies like Sharplink Gaming and Bitmine Immersion Technology now adding ETH to their balance sheets.

Prominent crypto investor Pentoshi highlighted the scale of this trend earlier this week on X:

“In less than one month, public companies will have bought enough ETH to offset all the ETH that’s been created since the merge. It’s 1/9th the market cap of BTC and takes far less capital to move. That capital is clearly coming.”

Technical Insights:

• CoinDesk’s analytics model shows ETH staged a sharp rally during the hour from 20:58 UTC to 21:57, leaping 6% from $2,819.07 to $2,996.85.
• The surge unfolded in three stages: initial consolidation around $2,824 until 21:15, followed by a breakout through resistance levels at $2,845, $2,870, and $2,920, and capped by a swift advance to nearly $2,993.
• Key support levels were identified at $2,756.18 and $2,761.11.
• Significant resistance formed around $2,993.34, suggesting a critical threshold for further gains.