The Ethereum price has risen by 3% in the past 24 hours, with its move to $3,716 coming as Bitcoin drops by 1.5% today.
ETH is now up by 23% in a fortnight and by 53% in the last 30 days, while it also boasts a 17% increase in the past year.
This latter percentage is fairly modest in comparison with other major tokens, but ETF inflows suggests that demand is steadily rising for the altcoin.
It could therefore have a very strong end to the year, with the long-term Ethereum price prediction pointing towards a number as high as $50,000.
Ethereum Price Prediction: Companies and ETFs Are Loading Up Fast – $50,000 Target for 2025?
The recent data on Ethereum ETF inflows is quite impressive, with July witnessing a big uptick in volumes, which rose as high as $726 million on July 16.
In fact, over the past five days, ETH ETF inflows have been higher than inflows for Bitcoin ETFs, suggesting that institutions are currently focusing on the altcoin.
It’s likely that companies and institutions have been turning to Ethereum because, in relation to Bitcoin, it had remained undervalued for quite a while.
It remains 24% below its ATH of $4,878, which it set back in November 2021, while it had remained below $3,000 for the entire period between February 3 and July 14.
As such, there’s still a case that it could rise considerably further before becoming overbought, with its chart today showing that it continues to maintain strong momentum.
Despite look like it was going to dip, ETH’s relative strength index (yellow) has actually begun rising towards 80 in the past few hours, signalling renewed buying.
Source: TradingViewThe same thing applies to the coin’s MACD (orange, blue), which is still at its highest position since 2021.
Now is therefore a very good time to buy ETH, since even if it dips a little over the weekend, its medium-term trajectory remains upwards.
As we’ve written before, Ethereum’s TVL accounts for 59.5% of the entire crypto sector, and that’s not including Ethereum-based layer-two networks.
Given Ethereum’s network effects and its ongoing development, this dominance is likely to remain, which would point towards a much higher price longer term.
The Ethereum price could therefore reach $4,000 by the end of August, before ending the year at around $5,000.
And if it continues to attract more investment and adoption, $50,000 could be a realistic target over the next few years.
Layer-Two Network Bitcoin Hyper Raises $4.8 Million Ahead of Launch: Next Big Platform?
Now is an exciting time for the crypto market, and part of the reason for this is that new projects and platforms continue to emerge, helping the sector to grow.
While many new projects are just meme tokens, some are platforms with serious utility and potential, with one of the most interesting of these being Bitcoin Hyper (HYPER).
Bitcoin Hyper has now raised over $4.8 million in its ongoing presale, with investors bullish about its plans to launch an L2 network for Bitcoin.
As a platform, Bitcoin Hyper will be Solana Virtual Machine-compatible, making it capable of high speeds and throughput.
This means it will reduce the bottlenecks that can sometimes impact Bitcoin’s usability and reach, with Bitcoin Hyper aiming to develop an ecosystem that can effectively harness Bitcoin’s enormous value.
The L2 will enable instant bridging between itself and Bitcoin, while it use zero-knowledge proofs to ensure privacy and efficiency.
This makes it a very promising platform, with investors able to join HYPER’s presale by going to the official Bitcoin Hyper website.
HYPER is currently available at $0.0124, although this price will rise intermittently until the sale ends.
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