Ethereum Surges Above $4,000 as 7.2 Million ETH Bought Signals Strong Market Demand

On December 17, COINOTAG reported that Ethereum (ETH) has reclaimed the critical price level of $4,000, reflecting a robust market demand. Recent data from IntoTheBlock highlighted that approximately 7.2 million ETH were acquired at prices just under $4,000. This surge in acquisition underscores a strong bullish sentiment among investors, suggesting that the demand could bolster ETH’s price stability above this significant threshold. As the market increasingly recognizes Ethereum’s potential, factors such as network upgrades and growing utility in decentralized finance (DeFi) platforms continue to attract institutional interest. The implications of these trends could signal sustained strength for ETH in the broader cryptocurrency landscape.