Ethereum Surges 15% In One Week: Will It Return To $3K
Ethereum is back on the mend, rising 15% in the last week and prompting holders to turn bullish on the asset. At press time, ETH is trading at $2,684.49, already a 4% rise in 24 hours alone. With the Ethereum team issuing an update ahead of the upcoming Pectra hard fork upgrade, there is new momentum behind the Ether token. The latest whale activity and technical indicators suggest Ethereum could be getting ready for a significant upswing, with a chance for it to reach $300. A recent increase in open interest, funding rates, and network growth signal strong demand for ETH, pumping its price. Furthermore, Spot Ethereum ETFs have improved their performance over the past few weeks as well. Data from Farside investors reveals that flows into US-based spot Ethereum ETFs turned positive last week. Inflows of $5.2 million and $2.9 million were seen on Septemper 19 and September 20, respectively. Ethereum Outperforms Bitcoin: Is $3,000 Imminent? Furthermore, the recent positive performance o...