Ethereum’s Bullish Surge: Eric Trump’s Investment Advice Vindicated as ETH Breaks $4,600
Ethereum's impressive rally past $4,600 has reignited discussions around Eric Trump's February investment advice, with the digital asset more than doubling since its June low of $1,573. Despite facing criticism earlier this year, Trump's bullish stance on Ethereum has been validated as the cryptocurrency continues its upward trajectory. This article delves into the details of Ethereum's recent performance and the renewed debate surrounding Trump's investment recommendations.
Eric Trump Claps Back at Critics as Ethereum Surges Past $4,600
Ethereum's remarkable rally past $4,600 has reignited debate around Eric Trump's February investment advice. The digital asset has more than doubled since its June low of $1,573, validating Trump's bullish stance despite earlier criticism.
In February, Trump urged investors to buy ethereum at $2,919 - a move mocked when ETH plunged to $1,573 in June. Crypto commentator Ashley D Can accused Trump's followers of becoming 'exit liquidity.' The recent surge proves the wisdom of patience in crypto markets.
The current Ethereum season, as analyst Benjamin Cowen calls it, shows 54.2% monthly gains. ETH now eyes its all-time high of $4,891, demonstrating the asset's resilience and growth potential despite short-term volatility.
Ethereum Hits 4-Year Highs, Analysts Predict $5,241 as Next Target
Ethereum surged 8.5% in the past 24 hours, reaching $4,666—its highest level in four years. The rally puts ETH within striking distance of its all-time high of $4,891, with analysts like Ali Martinez targeting $5,241 based on MVRV pricing bands.
Institutional demand is driving momentum. BlackRock's ETHA ETF led $500 million in net inflows on August 12, while on-chain data shows whales accumulating as retail traders take profits. The Ether treasury race and spot ETF approvals have created a perfect storm for price discovery.
Market structure appears favorable. With minimal overhead resistance and derivatives markets flashing bullish signals, Ethereum's breakout above $4,300 could mark the beginning of a new parabolic phase.
Institutional Investors Drive Ethereum's Bullish Outlook with $25K Price Target by 2028
Ethereum has emerged as the cryptocurrency of choice for institutional investors, according to recent SEC filings. Net inflows into Ethereum ETFs surpassed $1.5 billion over two days, while corporate treasuries accumulate billions in ETH positions. Standard Chartered's revised projections paint a bullish picture: $7,500 by end-2024, $12,000 by 2026, and $25,000 by 2028-2029.
The bank's head of global research Geoff Kendrick attributes the upgraded forecast to Ethereum's strengthened fundamentals, particularly in stablecoin adoption and institutional demand. ETH currently trades just 4% below its all-time high of $4,660, with the $4,000 resistance level now viewed as support.
This institutional momentum contrasts sharply with March's bearish sentiment, demonstrating crypto markets' rapid sentiment shifts. The Ethereum ecosystem continues absorbing capital despite macroeconomic headwinds, suggesting deep conviction in its long-term Web3 infrastructure role.
On-Chain Data Shows 98% of Ethereum Wallets Now in Profit: What’s Next for ETH Price?
Ethereum's resurgence above $4,500 marks a pivotal moment, nearing its all-time high and signaling potential for a breakout. The rally has triggered $252.5 million in liquidations over 24 hours, with long positions accounting for $58 million and shorts $194 million. Open interest in ETH futures has surged to $61 billion, though denominated in ETH, it remains 11% below July's peak.
Market dynamics reveal a neutral 11% annualized premium for ETH perpetual futures. Notably absent is the excessive leverage demand seen during Saturday's rally, suggesting tempered speculation despite bullish momentum. The absence of froth in derivatives contrasts with spot market strength, hinting at organic buying pressure.
DeFi Education Fund and a16z Advocate for Regulatory Safe Harbor in Blockchain Space
The DeFi Education Fund and venture capital giant Andreessen Horowitz (a16z) are pushing for a regulatory safe harbor to clarify broker-dealer rules for decentralized finance applications. The proposal targets platforms like Uniswap and Coinbase Wallet, aiming to shield them from excessive oversight while fostering U.S. innovation.
Central to the proposal is a requirement for blockchain apps to remain non-custodial, avoid discretionary control, and maintain decentralized protocols. This comes as the SEC ramps up crypto oversight through initiatives like its new crypto task force and Project Crypto—a MOVE signaling both scrutiny and adaptation to the digital asset era.
Clear guidelines could prevent developers from being hamstrung by legacy regulations, argues the coalition. The letter to SEC Commissioner Hester Peirce emphasizes that regulatory certainty is critical for maintaining America's competitive edge in blockchain technology.
Bitmine Stocks Surge 60% Amid Ethereum Rally and Aggressive Treasury Expansion
Bitmine Immersion Technologies (NYSE: BMNR) saw its stock price skyrocket over 60% in just five days, fueled by Ethereum's bullish momentum. The cryptocurrency, which constitutes the core of Bitmine's treasury holdings, neared its all-time high of $4,891, injecting Optimism into the market.
The company's announcement of a $24.5 billion common stock sale further galvanized investors. Priced at $0.0001 per share, this aggressive capital raise aims to amplify Bitmine's Ethereum reserves, already the largest among public firms at 1.15 million ETH ($5 billion). The firm ultimately seeks to control 5% of ETH's total supply.
Ethereum's price surged 5% in 24 hours, peaking at $4,728 during Asian trading hours. This rally, combined with Bitmine's strategic moves, underscores institutional confidence in crypto's long-term value proposition.
