Ethereum (ETH), the second-largest crypto project by market cap, has lost some of its luster. Over the past few months, Ethereum (ETH), which is second in terms of market capitalization, has been struggling to maintain momentum. Early February this year, the asset’s last trade was above $3000. Since that time, ETH’s price has fallen. We’ll discuss whether the popular cryptocurrency will reach the mark of $3000 in July 2025.
The ETF inflows aren’t helping the price?
Over the past few days, Bitcoin (BTC), and Ethereum ETFs (ETH) have experienced constant inflows. On July 1, ETH ETFs received around $31.8 millions in new investments. BTC’s price is spiking due to ETF purchases, but ETH doesn’t follow that pattern.
Ethereum (ETH) was launched in 2009. down The daily chart shows 0.3%, the weekly charts 4.6%, the monthly charts 2.4%, and the 29.4% charts since July 2024. In the last seven days, ETH’s price has risen by 1.6% on weekly charts. On the weekly charts, ETH is up 1.6%.
Tom Lee says Ethereum will be the next Bitcoin
Tom Lee from Fundstrat thinks that Ethereum (ETH) may be the future of Bitcoin (BTC). Lee says that the adoption of stablecoins has recently increased. Lee explains how stablecoins work on the ETH platform. This aspect, he believes, makes the project a good consideration.
ETH saw a surge in its value after upgrading to Pectra. The upgrade brought back ETH’s burns. Unfortunately, the rally was only short-lived. The market correction was triggered by global geopolitical tensions and volatility in the markets.
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ETH is currently resisting at $2500. If this price is exceeded, the asset could reach the mark of $3000. The question to ask is whether ETH has the potential to hit $3000 mark in July. If the situation on the markets improves, the asset could possibly surpass the $3000 mark. A Federal Reserve rate reduction could help its rise.
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Source: watcher.guru
