• Ethereum (ETH) demonstrates strong institutional support and growing investor sentiment despite the recent declines.
• ETH ETFs have $141.7 million in inflows, marking new buying interest by the Wall Street titans, including BlackRock and Fidelity.
• Analysts are projecting ETH to hit $14,000, driven by increasing institutional buying and ETF arrivals.

Ethereum (ETH) is showing resilience for a strong potential rally with the institutional backing and investor interest. Over the last 24 hours, ETH is showing stability, but looking at the last week, it is slightly down by 7.51%. 

At the time of writing, ETH is trading at $3,846.79 with a 24-hour trading volume of $48.79 billion, marking a 33.94% surge compared to the previous session. Moreover, its market capitalization stands at $463.99 billion.

Source: CoinMarketCap

Also Read: Ethereum (ETH) Eyes $8,000 as BitMine’s $1.5 Billion Investment Sparks Optimism

Ethereum ETFs See $141.7 Million Surge in New Inflows

A prominent crypto analyst, Ted, noted that Ethereum ETFs saw healthy inflows of $141.7 million, which is among the biggest institutional interest surges within weeks. It signals growing optimism of the long-term outlook of Ethereum. Experts are of the opinion this trend would be among the eventual movements towards investment products tagged on Ethereum.

Source: X

Leading the way, BlackRock and Fidelity bought an aggregate of $101.6 million of Ethereum, cementing their dominance of digital assets. Their passionate buying gives an indication of Wall Street’s growing interest in ETH as the market sentiment remains bullish. With the financial mainstream ever-deeper into the realm of crypto, the reign of Ethereum as the best smart contract protocol ever tightens.

Ethereum’s 3-Step Rally Returns With $14,000 in Sight

Moreover, a respected crypto analyst, Merlijn The Trader, highlighted that Ethereum’s mythical three-step launch protocol seems to be back. In 2020, this same configuration catalyzed a 45x rally, making ETH the center of the cryptocurrency revolution. Now, there seems to be a repeat of the same, but this time, Ethereum is launching off the $1,500 level, targeting the brilliant five-digit breakout.

First the slow bleed, where the prices creep lower and sentiment wanes, giving the smart money time to creep in and build quietly. Then the harsh shakeout, washing the weak hands and resetting the market for the stronger foundation. And, finally, the vertical takeoff, the rush of momentum propelling the Ethereum upwards, as confidence and demand come back strong.

Source: X

With chain action increasing, institutional adoption gaining momentum, and Layer 2 ecosystems flourishing, the stage is set for Spark. Traders are of the opinion that Ethereum would rise towards $14,000, repeating its 2020 run-up but on an enlarged scale. The clock has started the launch sequence of Ethereum live.

Also Read: Ethereum Surges After Bitmine Purchase Eyes $5,000 Price Target