Ether’s up 15% in five days. That’s a solid run after hitting $1,500 back on June 26. The question now: can it hit $2,000?
BitMine Immersion Technologies keeps stacking ETH. The US-listed company added 325,000 ETH over the past month, pushing its holdings to 5.74 million. It’s sitting on about $8 billion in unrealized losses, but that hasn’t slowed them down. They’re angling to own 5% of all Ether in circulation.
That buying pressure helped reinforce the $1,500 floor. It’s not the only reason for optimism, though.
Ethereum’s Glamsterdam upgrade is in final testing. It’s supposed to let the network process more transactions in parallel and handle more data without bogging down. The whole point? Build infrastructure that institutions can actually use.
Then there’s Robinhood Chain. Launched July 2, it’s an EVM-compatible L2 built on Arbitrum tech. Robinhood rolled out tokenized stock trading in over 120 countries alongside DeFi integrations with Uniswap, 1inch, and Morpho. That’s TradFi money flowing onto Ethereum’s rails.
The options market’s still cautious. Put premiums are at 9% — that’s not bullish, but it’s way better than the 15% fear levels from last week. There’s also the Digital Assets CLARITY Act making its way through Congress, which could give crypto clearer regulatory footing.
Network fees on Ethereum’s base layer took a hit after L2s ate up transaction volume. Less ETH gets burned, supply dynamics turned inflationary. That’s the downside. But real-world use cases and network upgrades are carrying more weight right now.
Short version: $2,000 is in sight. Nothing’s guaranteed in crypto, but the pieces are lining up.
