Ethereum recently approached a record high of just over $4,900, supported by inflows from digital asset Treasury companies, exchange-traded funds, and broader bullish sentiment in the cryptocurrency market, and “all systems are clear for Ethereum to break through $5,000,” Matt Tuttle, CEO of Tuttle Capital Management, told Newsmax, Tuesday.
“Ethereum was getting crushed earlier in the year, but really the past couple of months it’s been the real story when it comes to crypto,” Tuttle said on Newsmax’s “National Report.” “It almost got to $5,000 the other day. All the cryptos have sold off over the past couple of days, so it didn’t quite get there. But it looks like all systems are clear for Ethereum to break through $5,000.”
The cryptocurrency’s market capitalization is nearing $600 billion, with year-to-date gains approaching 40%. By comparison, bitcoin, the largest digital asset, is up about 20% this year.
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