- Ether reached its highest price in six months on July 18, approaching $3,700.
- Recent gains are linked to new U.S. stablecoin legislation and institutional investments.
- Institutional capital is entering via Ethereum exchange-traded funds and staking activities.
- Experts point to increased Ethereum staking rates and growing demand with limited supply.
- Investors are rotating from Bitcoin to ether and other major cryptocurrencies.
On July 18, ether prices rose sharply, nearing $3,700 and hitting their highest level since early January. The digital currency reached $3,677.40 on the day, according to Coinbase data from TradingView.
Over the course of July, ether has surged by more than 50% after dropping to around $2,400 at the month’s start, figures from Coinbase show. Analysts attribute these gains to several developments, including recent U.S. government approval of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS Act).
According to digital finance commentators and experts, institutional activity has played a significant role. “Ethereum has been on an absolute tear recently. And I honestly think we can attribute most of it to the GENIUS Act getting approved and then of course, BlackRock filing to allow staking of Ethereum in their iShares Ethereum Trust ETF (ETHA),” stated YouTuber Wendy O. Doug Colkitt of Fogo explained, “Ethereum is benefiting from a mix of structural and speculative drivers…The rally is partly fueled by renewed momentum across DeFi and tokenized assets, which continue to build atop Ethereum’s infrastructure.”
Mike Cahill, CEO of Douro Labs, also highlighted institutional interest. He said, “Ethereum is catching a wave of renewed institutional interest, driven by the broader tailwinds from ETF optimism and a rotation into high-beta assets.” Joe DiPasquale, CEO of BitBull Capital, identified growing institutional inflows into spot ETH ETFs and new regulatory clarity as reasons for the rally.
Staking activity has also reached new highs. Greg Magadini, director of derivatives at Amberdata, noted that around 30% of all ether is now staked, meaning that a smaller share of the currency is available for trading. “Everyone is trying to buy at the same time!” he stated, pointing to how limited liquid supply combines with high demand to drive prices upward.
Another contributor, Julio Moreno from CryptoQuant, observed a shift of capital from bitcoin into altcoins, especially ether, as traders look for undervalued assets. He reported that purchases of ether from U.S.-based ETFs have been rising faster than bitcoin during this period.
Ethereum plays a major role in the stablecoin ecosystem and in decentralized finance (DeFi), making it a key focus during periods of heightened activity. Increased staking rates, strong ETF inflows, and continued rotation from other cryptocurrencies continue to influence price action.
Recent legislative clarity, together with broader adoption trends, have led analysts to forecast ongoing high demand for ether, especially as trading activity in both exchange and ETF markets remains robust.
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