CryptoQuant: Due to increased institutional demand, Ethereum may break through $5,000

According to a new report by CryptoQuant, Ethereum may soon break through $5,000 due to increased institutional demand, marking the highest price in history for the second largest cryptocurrency by market value.

Not only that, on-chain activity is also very active. The company reported on Thursday that funds flowing into new Ethereum ETFs have set a record.

Last week, global investors injected $1 billion of new funds into Ethereum funds, setting a record months after spot ETH funds began trading in the United States.