Ethereum Surges Toward $3K Amid Renewed Institutional Demand and Market Momentum

Ethereum (ETH) surged to a four-month high on Thursday, nearing the $3,000 mark with a 6.7% gain over 24 hours. The rally coincided with Bitcoin (BTC) hitting new all-time highs, trading above $115,000. ETH’s price climbed to $2,996.85 during a key trading hour, up sharply from $2,819.07, according to CoinDesk data.

Despite underperforming in the current cycle compared to BTC and Solana (SOL), Ethereum is regaining attention as investors refocus on its core role in blockchain settlement and tokenization infrastructure. Joel Kruger, a market strategist at LMAX Group, noted a surge in derivatives activity and investor enthusiasm around ETH’s utility.

Spot Ethereum ETFs in the U.S. have also seen robust demand, with over $500 million in inflows month-to-date. This reflects growing institutional interest, especially as companies begin allocating ETH to their treasuries. Sharplink Gaming and Bitmine Immersion Technology are among the latest firms to add ETH to their balance sheets.

Prominent trader Pentoshi highlighted a key supply trend: "In less than a month, public companies will have acquired enough ETH to offset all post-Merge ETH issuance." He emphasized ETH’s lower market cap compared to Bitcoin—roughly 1/9th—making it more responsive to capital inflows.

Technically, ETH's rally broke through key resistance levels at $2,845, $2,870, and $2,920. Support was confirmed at $2,756 and $2,761. Analysts point to $2,993 as a major resistance zone.

As bullish sentiment grows and capital shifts toward Ethereum, the token’s momentum suggests a potential breakout above $3,000—fueled by both retail enthusiasm and strategic institutional buying.