ETH Rockets Past $3K as Ethereum Benefits from ETF Momentum and Tokenization Buzz

Ethereum Nears $3K as Momentum Builds on ETF Inflows and Renewed Institutional Demand

Ethereum’s native token, ether (ETH), surged on Thursday, approaching the $3,000 mark for the first time in over four months. The move follows a breakout in bitcoin (BTC), which set new all-time highs earlier in the day.

ETH jumped 6.7% over the past 24 hours, outperforming most large-cap digital assets as sentiment around the world’s second-largest cryptocurrency begins to shift. While ETH has notably lagged behind BTC and Solana (SOL) this cycle, analysts say the tide may be turning.

“ETH has taken the lead in price momentum, rallying off recent lows amid a pickup in derivatives activity and growing enthusiasm around its broader role in settlement and tokenization infrastructure,” said Joel Kruger, market strategist at LMAX Group.

ETF inflows appear to be playing a major role in this resurgence. U.S.-listed ether ETFs have brought in more than $500 million so far in July, reflecting increasing institutional appetite.

At the same time, more public companies are starting to add ETH to their balance sheets — a trend once exclusive to bitcoin. Firms like Sharplink Gaming and Bitmine Immersion Technology have recently disclosed ETH purchases as part of their treasury strategies.

Prominent crypto trader Pentoshi highlighted this shift in a recent post on X:

“In less than one month, public companies will have bought enough ETH to offset all the ETH created since the merge. It’s 1/9th the size of BTC’s market cap and needs much less capital to move — and that capital is clearly arriving.”

Technical Breakdown:

CoinDesk data shows ETH staged a sharp 6% rally between 20:58 UTC and 21:57, rising from $2,819.07 to $2,996.85.
The price move unfolded in three phases: early consolidation near $2,824, a breakout through key resistance zones at $2,845, $2,870, and $2,920, and a final push to $2,993.
Foundational support was seen at $2,756.18 and $2,761.11 during the session.
High-volume resistance is now clustered around $2,993.34, setting the stage for a potential breakout or retracement.

As ETH approaches a key psychological level, traders are watching closely to see whether this rally can extend beyond $3,000 and spark a broader altcoin resurgence.