Ethereum (ETH) $3,988.5attracts attention with its potential to reach new record levels. Popular analyst Pentoshi supported this expectation with his posts on the social media platform X. The increase in demand for ETH in spot ETFs has the potential to increase its price.
High Demand for ETH Spot ETFs
Demand for spot Ethereum ETFs is increasing in the crypto market. According to Pentoshi, this demand could push the ETH price to new highs. The analyst noted that flows supporting interest in ETFs have increased markedly in recent days. “ETH ETF flows reveal the strength of market demand,” Pentoshi said. “If this pace continues, new records may be achieved,” he said.
The increase in ETF demand strengthens Ethereum’s market position. This contributes to making ETH an attractive option for investors. Increasing demand could see ETH retarget the all-time high of $4,900 reached in 2021.
Ethereum Outperforms Other Cryptocurrencies
Ethereum, Bitcoin (BTC) with its performance 
$99,755.0 and Solana (SOL). While Pentoshi emphasized ETH’s competitive advantage within the market, “ETH is ready for new annual peaks. “The future looks promising,” he said.
According to the latest data, Ethereum was trading at $ 4,015 at the time of publication. ETH, which increased by 5.1% during the day, is approaching its new year’s peak levels.
This strong performance indicates that Ethereum will attract even greater investor interest in the future. The rapid increase in ETF demand and positive sentiment on the market creates a suitable basis for Ethereum to reach new highs.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
