Ethereum’s Growing Momentum Could Lead to New All-Time Highs, Analysts Predict
A series of inflows into U.S.-listed spot ether (ETH) exchange-traded funds (ETFs), increasing activity on the Ethereum blockchain, and heightened institutional interest are positioning the second-largest cryptocurrency by market cap for a potential surge past its three-year-old price record in the coming months.
QCP Capital highlighted the recent strength of Ethereum, noting that it has significantly outperformed in the latest rally despite lagging behind Bitcoin (BTC) and Solana (SOL). “ETH’s recent strength supports the case for it to retest its all-time high,” the firm said, citing ongoing inflows and increased market optimism.
Ethereum ETFs Drive Optimism
“ETH spot ETFs continue to record strong net inflows, with $90.1 million added on Wednesday, marking a four-day winning streak,” QCP Capital reported. Despite some market retracement, the ETF inflows reflect growing confidence in ETH’s future. On Wednesday, ETH saw an 11.65% rally, reaching a high of $3,688. The performance aligns with QCP’s prediction of a capital rotation from Bitcoin to Ethereum.
The period from November 22-27 saw Ethereum ETFs attracting over $220 million in inflows, marking the second-longest streak since the ETFs launched in July. This brought cumulative inflows to a positive $240 million, further bolstering ETH’s potential for price growth.
ETH’s Price Potential
“ETH has lagged behind BTC and SOL in the current rally,” QCP noted, “but its recent momentum makes a retest of its all-time high of $4,868 (+35.4%) increasingly likely.”
Record-Breaking Market Activity
Fundamental factors continue to support Ethereum’s rise. A recent CoinDesk analysis revealed that open interest in ETH futures contracts has hit a record 6.32 million ETH, worth more than $27 billion. This surge in futures interest is a key indicator of growing institutional involvement in Ethereum.
Ethereum’s options market is also experiencing a surge, with over 2 million active contracts on Deribit — the highest since June.
Additionally, other on-chain data points to increasing activity across the Ethereum network, including rising revenue, transaction fees, new wallet creations, and Ethereum blockchain volumes. Activity levels in the past month have surpassed those from May to September.
Ethereum Surpasses Tron in Stablecoin Holdings
Ethereum has also surpassed Tron in the amount of USDT (Tether) hosted on its network, marking a significant milestone. Ethereum now holds $60.3 billion in USDT, compared to $57.94 billion on Tron — the first time this has happened since June 2022.
As these factors align, Ethereum is seeing strong momentum that could push it to new highs, potentially breaking its all-time price record and solidifying its role as a leading cryptocurrency.
