Ethereum Tops $2,430 on Biggest ETF Inflow Since October, Up 29% in a Week

Ethereum broke above $2,430 on Friday, its highest level in roughly four months, after US spot ETH ETFs pulled in their largest single-day inflow since October. The move capped a week in which ETH gained 29%, with the token last changing hands near $2,420-$2,422.

Ether’s four-hour candle alone added about 5% as buying accelerated into Friday’s session, pushing the asset through the $2,400 mark for the first time since roughly mid-year. Over a shorter four-day window, some trackers put the gain even higher, at 28%, underscoring how sharply sentiment flipped after weeks of sideways trading.

ETF Demand and Exchange Outflows Point to Accumulation

The rally coincided with US spot Ethereum ETFs absorbing their biggest daily inflow since October, a signal that institutional demand returned in force after a quiet stretch. At the same time, on-chain data showed large holders withdrawing fresh supply from Binance, reducing coins available on the exchange’s order books.

Falling exchange balances alongside rising ETF inflows typically point to accumulation rather than short-term speculation, since coins moved into ETF custody or private wallets are less likely to be sold quickly. For traders, that combination has historically preceded further upside as available float tightens.

Whales Split on the Next Move

Not every large holder is reading the rally the same way. While some whales added to positions and pulled ETH off Binance, others have reportedly used the strength to reduce exposure, according to BeInCrypto’s reporting on wallet activity. That divergence suggests the market has not reached a consensus on whether the current level represents fair value or an overextension after a near-30% weekly move.

$3,000 Target in Play, But Unconfirmed

At least one analyst cited by CoinGape argued ETH could reach $3,000 before the end of the month if current momentum holds. That figure is a forecast, not a confirmed price level, and depends on ETF inflows and exchange withdrawals continuing at their recent pace.

For holders and traders, the key data points to watch are straightforward: daily ETF flow figures, Binance and other exchange reserve balances, and whether the 29% weekly gain holds above the $2,400 level or gives back ground as some whales continue to take profit. A break back below that threshold would undercut the bullish thesis built on this week’s inflow and withdrawal data.

Read more: Ethereum Jumps 18% Intraday to Near $2,500 as Spot Volume Spikes 400%

Sources

• coingape.com
• beincrypto.com