Countdown to $4,500? ETH Is Only 9.65% Away from Significant 4-Year Breakthrough
What’s driving Ethereum’s rise? Reports have emerged that Peter Thiel acquired 9% of an Ethereum Treasury company, reinforcing this as the Microstrategy approach, but specifically for 
Ethereum ▲10.21%.
Following Palantir’s remarkable achievements, every crypto holder globally is likely to copytrade anything Thiel engages with, so brace for substantial ETH inflows in the weeks ahead.
This weekend or the next, many anticipate that Bitcoin will generate a significant surge and ETH will follow suit. Here’s what you should know:
Corporate Ethereum Treasuries Are Heating Up
Peter Thiel has now acquired 9.1% of Bitmine Immersion Technologies, a company previously linked to BTC mining but currently holding $536 million worth of ETH.
With a balance sheet featuring over 163,000 Ethereum, Bitmine has transformed into an Ether treasury vault, guided by Fundstrat’s Tom Lee.
“This marks a significant milestone for ETH adoption among institutions,” noted Sassal, an independent ETH analyst, commenting on Thiel’s involvement.
Joseph Lubin, one of Ethereum’s co-founders, is also making strides through SharpLink Gaming, which has just boosted its Ethereum reserves to 280,706 ETH, becoming the largest corporate holder of ETH as of now.
These tactical acquisitions are fueling Ethereum’s upward momentum. Over the course of three months, ETH has surged by 110.9%, significantly surpassing Bitcoin’s 39% increase in the same period, according to CoinGecko. In terms of price, ETH is currently around $3,384, with technical indicators indicating a solid breakthrough past the 50-day moving average last week.
ETH Climbs Global Asset Rankings
Ethereum’s trading market capitalization is approaching $377 billion, placing it ahead of companies like Johnson & Johnson and exceeding the total value of commodities such as platinum. It is currently positioned 26th globally among all assets in terms of crypto market value.
“People tend to follow trends, but Ethereum’s value is steadily growing beneath the surface,” commented Wise Advice, a crypto market analyst. “This is a prolonged shift, not just a temporary surge.”
What’s even more revealing: ETH has outperformed BTC in daily trading volume, as reported by BTCBlueWhale. We may be at the dawn of a significant alternative coin rally.
Focus on the $4K Price breakout, Or Beyond?
Analysts at 99Bitcoins are eyeing the $4,000 price ceiling level. A confirmed upward movement there could propel Ethereum towards new all-time highs, potentially retesting its 2021 high of $4,878.
Indeed… I was among those who purchased at that peak. Four years later, we’re back in action!!
What’s changed this time? Ethereum is no longer merely following Bitcoin’s lead. With institutional investments increasing, technical analysis aligning favorably, and regulatory clarity advancing, Ethereum may very well rekindle the energies of 2021.
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Key Takeaways
- What’s causing Ethereum’s rise? Reports indicate that Peter Thiel has acquired 9% of an ETH Treasury firm, reinforcing this as a similar strategy to Microstrategy.
- Notably: Ethereum has eclipsed Bitcoin in terms of daily trading volume, according to BTCBlueWhale. We might be at the onset of a substantial alternative coin rally.
The post Countdown to $4,500? ETH Just 9.65% Shy of Major 4-Year Price breakout appeared first on 99Bitcoins.
