ETH price could surpass $5K with continued demand increase: CryptoQuant

In its latest weekly report, blockchain intelligence platform CryptoQuant highlighted a surge in investor demand for Ether (ETH) along with increasing Ethereum network activity. If current trends hold, ETH could climb above $5,000. Since launching in July 2024, U.S. spot Ethereum ETFs have expanded their holdings from 3.095 million ETH to a record high of 3.41 million ETH. Daily transactions have consistently been between 6.5 and 7.5 million throughout 2024, up from roughly 5 million in 2023. The realized price of ETH, which reflects the average price at which holders have purchased their ETH, points to a potential price ceiling of around $5,200—this was also the peak during the 2021 bull run. As new investors buy in at higher prices, this ceiling is expected to rise.