Ethereum’s Bullish Surge: Breaking Barriers and Eyeing $3,000 Amid ETF Boom
Ethereum has recently achieved a significant milestone, reaching a 30-day high of $2,821.56 on July 10, driven by strong inflows into U.S. spot ETFs. This rally, marked by a 4.01% gain in 24 hours, underscores the growing investor confidence in ETH. With technical indicators pointing to sustained momentum and a breakout from a multi-month symmetrical triangle, ethereum is now setting its sights on the $3,000 mark. Despite the potential for profit-taking, the current trend highlights ETH's outperformance against most altcoins, solidifying its position as a leader in the crypto market.
Ethereum Hits 30-Day High, Eyes $3,000 Amid ETF-Driven Rally
Ethereum surged to a 30-day high of $2,821.56 on July 10, fueled by robust inflows into U.S. spot ETFs. Daily investments reached $211.32 million—the second-largest since February—propelling ETH's 24-hour gain to 4.01%.
Technical indicators suggest sustained momentum, with ETH breaking out of a multi-month symmetrical triangle after clearing resistance at $2,790. The rally outperforms most altcoins, though profit-taking poses a near-term challenge.
Market watchers now eye the psychologically critical $3,000 threshold, which could be breached by month's end if institutional demand persists. The ELX index reflects strengthening bullish sentiment across derivatives markets.
BlackRock-Backed Firm Advocates for Native Tokenization of Securities
Carlos Domingo, CEO of Securitize, asserts that native tokenization is the only true method for representing securities on-chain. Unlike synthetic alternatives, natively tokenized stocks on networks like Ethereum would confer identical rights—voting, dividends—as traditional shares, while eliminating counterparty risk and fragmentation issues.
The SEC's recent regulatory warnings highlight growing scrutiny as firms experiment with security tokens. BlackRock's $2.8B BUIDL fund, tokenized natively via Securitize as transfer agent, exemplifies institutional adoption of this approach.
Market Fundamentals and ETH Mention in EconTalk Podcast
In a recent EconTalk podcast, Russ Roberts and Mike Munger dissected the Core principles of markets and capitalism, offering fresh perspectives on their societal value. Munger framed markets as "institutions for reducing the transactions cost of impersonal exchange," illustrating their power through a simple fruit trade scenario. Voluntary exchange, he argued, inherently creates value without altering total resources.
The discussion pivoted to how division of labor amplifies this effect—specialization and trade act as economic steroids, expanding total output. This scalability hinges on market mechanisms enabling strangers to transact efficiently. While the conversation remained theoretical, the implicit relevance to decentralized systems like Ethereum (ETH) was palpable. Cryptocurrencies exemplify Munger's impersonal exchange paradigm, eliminating intermediaries through smart contracts.
Tornado Cash Co-Founder's Trial Faces Potential Delay Over Witness Dispute
Tornado Cash co-founder Roman Storm's legal team may seek to postpone his upcoming criminal trial if a judge permits testimony from an alleged hacker who used the Ethereum-based mixer. Defense attorneys filed a motion on July 10 to exclude the unnamed witness, arguing prosecutors missed disclosure deadlines and the testimony could unfairly prejudice jurors.
The witness—described as a hacker who laundered funds through Tornado Cash—risks misleading the jury into conflating Storm's role with the alleged crime, according to court documents. Storm faces charges including money laundering and sanctions violations, with the trial scheduled to begin July 14. A ruling on the witness dispute is expected imminently.
Ethereum Foundation Unveils Strategic Overhaul to Drive Ecosystem Growth
The Ethereum Foundation has restructured its operations around four CORE pillars—Acceleration, Amplification, Support, and Unblocking—to catalyze mainstream adoption. New specialized teams will target enterprises, developers, and local communities while grants and policy initiatives aim to strengthen Ethereum's long-term viability.
Enterprise Relations and Developer Growth units will spearhead technical and commercial adoption, reflecting Ethereum's expanding appeal beyond crypto-native audiences. Governments and institutions now feature prominently in Ethereum's growth strategy as real-world utility takes precedence.
The Foundation maintains its dual focus on global reach and infrastructure development, balancing scalability with decentralization principles. This strategic pivot underscores Ethereum's maturation from developer playground to full-stack solution for institutional adopters.
Ethereum Investors See Green After Following Eric Trump's Advice
Ethereum has completed a dramatic five-month recovery, now trading just below $3,000 after plunging to $1,470 in April. The rebound validates Eric Trump's February recommendation to buy the cryptocurrency, with early adopters seeing modest 2.9% gains.
March and April proved particularly brutal for ETH holders as geopolitical tensions and cascading liquidations triggered a 18% single-day drop. The asset's volatility mirrored broader crypto market turbulence amid shifting trade policies and macroeconomic uncertainty.
Market data shows Ethereum's resilience despite earlier pessimism, with the current price hovering NEAR $2,962. The recovery trajectory demonstrates crypto's characteristic volatility, where positions can swing from deep losses to profitability within quarters.
