Ethereum ETH/USD is surging on Friday, backed by strong ETF inflows and bullish options data.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Ethereum ETH/USD | $3,577.05 | $431.1 billion | +4.3% | +7.3% |
| Bitcoin BTC/USD | $98,100.82 | $1.94 trillion | +1.8% | +4.4% |
| XRP XRP/USD | $2.45 | $140.8 billion | +3% | +13.5% |
Trader Notes: Crypto trader CJ forecasts Ethereum hitting equal highs around $3,555, with the possibility of rejection near $3,640–$3,650 should it push into a supply zone.
Alternatively, a dip to $3,000 could present an attractive buying opportunity, with potential for new all-time highs.
For now, CJ is watching ETH's mid-range position, waiting for it to approach a key level.
Another trader, Cold Blooded Shiller, sees Ethereum "teasing the upside breakout," suggesting a bullish momentum shift is imminent.
Daan Crypto Trades highlights a competitive quarter between Ethereum and Bitcoin, noting ETH's potential to outperform.
If Ethereum takes the lead, it could bolster the broader altcoin market and reduce Bitcoin's dominance.
This shift could bring more attention and capital to altcoins, fuelling further growth across the crypto space.
The trader sees that this is a good time to watch for key momentum shifts in ETH as it could set the tone for the rest of Q1.
Statistics: IntoTheBlock data shows Ethereum's large transaction volume expanded by 25.2% and transactions greater than $100,000 increased from 4,874 to 6,567 in a single day.
With recent price gains, 87% of ETH holders are currently in profit.
Coinglass data shows Ethereum open interest increased 7.2% to $25.96 billion while derivates trading volume rose 2.6% to $27.7 billion.
Spot Ethereum ETFs: December 2024 marked a record month for net inflows, accumulating over $2.08 billion—nearly double the $1 billion net inflow in November.
BlackRock's ETHA fund and Fidelity's FETH fund led the charge, attracting $1.4 billion and $752 million, respectively.
Options Market: Deribit data shows 1.3 million Ethereum options contracts worth $453 million expiring today, with a put-to-call ratio of 0.33, signalling a majority of traders betting on price increases.
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