Why is Ethereum going up? News just hit that Peter Thiel bought 9% of an Ethereum Treasury company, cementing this as the Microstrategy play, but for ETH ▲2.76%.
After Palantir’s insane success, every investor in the world will copytrade anything Thiel touches, so prepare for a lot of ETH inflows in the coming weeks
This weekend or the next, many are predicting Bitcoin will print a god candle and Ethereum will follow. Here’s what you need to know:
Corporate ETH Treasuries Are Catching Fire
Peter Thiel now owns 9.1% of Bitmine Immersion Technologies, a firm once tied to Bitcoin mining but now sitting on a $536 million pile of ETH.
With over 163,000 ETH on its balance sheet, Bitmine has turned into an Ether treasury vault, guided by Fundstrat’s Tom Lee.
“This is a major milestone for ETH adoption at the institutional level,” said Sassal, an independent Ethereum analyst, adding that Thiel’s entry.
Ethereum’s co-founder, Joseph Lubin, is also making moves through SharpLink Gaming, which just expanded its ETH reserves to 280,706 ETH, making it the largest corporate holder of Ethereum to date.
These strategic accumulations are helping drive Ethereum’s momentum. ETH is now up 110.9% over the three months, far outpacing Bitcoin’s 39% gain in the same timeframe, according to CoinGecko. Price-wise, Ethereum now sits around $3,384, with technical indicators suggesting a clean break past the 50-day moving average last week.
Ethereum Moves Up Global Asset Rankings
Ethereum’s market cap now sits near $377 billion, putting it ahead of companies like Johnson & Johnson and surpassing the total value of commodities like platinum. It currently ranks 26th globally among all assets by market value.
“People chase hype, but Ethereum’s value is compounding underneath,” said commentator Wise Advice. “This is a long-term transition, not a pump.”
Even more telling: ETH has surpassed Bitcoin in daily trading volume, according to BTCBlueWhale. We could be a the beginning of a major altcoin rally.
Eyes on the $4K Breakout, Or Higher?
99Bitcoins analysts are looking at the $4,000 resistance level. A confirmed breakout there could push Ethereum toward new all-time highs, potentially retesting its 2021 peak of $4,878.
Yes… I was one of the people who bought that peak. 4 years later and we’re back baby!!
What’s different this time? Ethereum is no longer just riding Bitcoin’s coattails. With institutional money flowing in, technicals aligning, and regulatory clarity improving, ETH might finally bring the 2021 vibes back.
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Key Takeaways
- Why is Ethereum going up? News just hit that Peter Thiel bought 9% of an Ethereum Treasury company, cementing this as the Microstrategy play.
- Even more telling: ETH has surpassed Bitcoin in daily trading volume, according to BTCBlueWhale. We could be a the beginning of a major altcoin rally.
The post Countdown to $4,500? Ethereum Just 9.65% Shy of Major 4-Year Breakout appeared first on 99Bitcoins.
