Ethereum gains value. The exchange rate for a moment pierced USD 4000 in the chart. The question is whether the bulls can be kept in this area.
Ethereum returns to the favor of investors
For several weeks, Ethereum has been returning to the favor of investors. Although the first quarter of this year was fatal for the project – its fall was already hanged – for several weeks the bulls regained control. ETFs and companies that buy Ether who massively helped.
Today, for the fourth time in this cycle, it was possible to break the level of USD 4000. The problem is that ineffectively again. At the time I write these words, the price again dropped slightly below this psychological barrier. It is worth adding, however, that the fight continues and it is possible that the bulls will be permanently pierced 4000 USD, and then prepare for an attack on ATH, and in the next stage start the fight for new records.
The ETH/BTC pair stays at the level of about 0.034 BTC.
In turn, Ether’s dominance on the market is about 12.5%.
ETFs buy again
It is worth adding that in the background we see the shopping of ETFs that returned to the market after a breakthrough break. On August 7, the balance of purchases and sales amounted to USD 222.3 million. Over the previous two days – August 5 and 6 – the funds bought a net Ether for USD 73.3 million and USD 35.1 million. A certain purchasing correction took place on August 1 and 4, when the pillaans came minus: $ 1,52.3 million and USD 465.1 million.
We also observe shopping for large companies. Ether adds to their balances, among others Bitmine Immersion Technology, which has already bought just over 833,000 ETH or Sharplink Gaming with approx. 522,000 ETH.
We also see a change in the narrative about Ethereum in the media. Tom Lee from Bitmine came into the role of Michael Saylor of Strategy and often appears in the media to talk about Ethher, pointing to his upward potential.
However, not everything is so colorful. The scale of Ethers, which are to be paid in a little over a week, may be disturbed by as much as 455 216 ETH. Of course, this is not a supply that will immediately go on sale, but we got a signal that suggests that some of the stakes, however, “pulls out” Ether from Poola, so they are preparing for sale.
