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Ethereum's ETH Surges to $3K as ETF Flows, Tokenization Narrative Fuels Rally
The second-largest crypto has lagged behind BTC during this cycle, but the narrative has started to turn more positive recently.
Updated Jul 10, 2025, 10:43 p.m. Published Jul 10, 2025, 10:42 p.m.
What to know:
- Ethereum's ETH surged to its highest price in over four months, nearing $3,000 as BTC reached new record highs.
- ETH's recent momentum is driven by its growing role in settlement and tokenization infrastructure, strong ETF inflows and crypto treasury adoption.
- There's strong resistance around the $3,000 level, while a support zone emerged near $2,750, CoinDesk's analytics model shows.
Ethereum's ether surged on Thursday to its strongest price in more than four months as bitcoin broke new record highs.
The second-largest cryptocurrency by market capitalization advanced to just shy of $3,000, gaining 6.7% through the past 24 hours.
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While ETH has significantly underperformed during this cycle and failed to reach new record levels unlike BTC or Solana , the narrative has recently started to shift around the token.
"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.
U.S.-listed spot ETFs also saw strong demand, booking over $500 million in inflows month-to-date.
Meanwhile, the corporate crypto treasury strategy has expanded beyond bitcoin to ETH as well, with public firms such as Sharplink Gaming and Bitmine Immersion Technology adding the asset to their balance sheet.
"In less than one month, public companies will have bought enough ETH to offset all the ETH that's been created since the merge," prominent crypto investor Pentoshi said in an X post earlier this week. "It's 1/9th the market cap of BTC, and takes far less capital to move. That capital is clearly coming."
READ MORE: Bitcoin Breaks Fresh Record Topping $116,000
Technical analysis:
- CoinDesk's market analytics model shows that ETH had an explosive rally in the 60-minute interval between 20:58 UTC to 21:57, jumping 6% from $2,819.07 to $2,996.85.
- The rally occurred in three phases: preliminary consolidation around $2,824 through 21:15, succeeded by an acceleration phase breaking through resistance thresholds at $2,845, $2,870, and $2,920, and culminating in a final advance from to $2,993.
- Fundamental support levels were established at $2,756.18 and $2,761.11 throughout the trading session.
- Robust high-volume resistance consolidated around the $2,993.34 threshold.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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DOGE network engagement surged to 71,589 active addresses — its highest reading since September — signaling improving chain activity despite muted price performance.
What to know:
- Dogecoin struggles to break the $0.1409 resistance despite significant whale accumulation and increased network activity.
- Whale purchases have increased large-holder balances by 480 million DOGE, but price remains constrained by strong sell pressure.
- The divergence between bullish fundamentals and weak technicals suggests consolidation until a catalyst emerges.
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