We’ve FORECK.INFO gathered forecasts from across the crypto community to understand what investors expect from the world’s second-largest cryptocurrency — and just how high ETH might climb.
What’s Happening With ETH
Since the start of August, Ethereum has gained nearly 30%. On the morning of August 11, ETH set a new local high at $4,349 — just 11% shy of its record $4,891 reached on November 16, 2021.
Ethereum chart. Source: TradingView
Why Ethereum Is Rising
Whale Accumulation
Traders are pointing to strong whale activity as a major driver. On August 11, blockchain analytics team Lookonchain spotted an anonymous whale buying 49,533 ETH worth $212 million.
BitMEX co-founder Arthur Hayes also resumed buying Ether, despite predicting just last week that ETH could drop to $3,000.
Institutional Demand
Market analyst Ted Pillows noted that asset management firms have started aggressively accumulating ETH. For example, Galaxy Digital purchased more than $10 million worth of Ethereum on August 10.
BTC-to-ETH Rotation
Jan3 CEO Samson Mow believes Bitcoin investors are increasingly converting BTC into ETH amid rising institutional interest. He argues that corporate treasury accumulation is now the dominant narrative behind ETH’s rally.
Exchange Supply Decline
On-chain data shows a sharp drop in Ethereum reserves on centralized exchanges. This supply shortage could add fuel to the ongoing bull run.
Ethereum balances of crypto exchanges. Source: cryptoquant
DeFi Revival
Analyst Lark Davis points to a renewed surge of interest in decentralized finance as another bullish factor — one that makes ETH among the most attractive assets in the market today.
Analyst Karl Runefelt does not rule out the growth of the coin to $8,750. In his opinion , those who invest in Ethereum today will be able to see good results in 30 days.