Ethereum prices have reached a new all-time high of over $4,500 in recent days. This surge comes as monthly spot trading volume for Ethereum on centralized exchanges has surpassed Bitcoin for the first time in seven years, signaling a shift in investor focus towards ETH. Major institutional players like Tom Lee’s BitMine are further fueling this trend, with another significant investment pushing optimism even higher.
Analysts attribute this surge to growing DeFi adoption and increasing institutional interest, as well as substantial ETF inflows hitting nearly $4 billion for Ethereum while Bitcoin spot ETFs saw net inflows.
The move comes alongside a strong on-chain activity boom, including exceeding $100 billion in total value locked in DeFi apps, new wallet openings and active addresses hitting fresh highs. This trend is driven by large-scale OTC movements like BitMine’s recent purchase of 28,650 ETH ($130 million), indicating increasing investment from institutions.
The bullish signal has prompted analysts to anticipate a potential