Ethereum Surges Past $2,700, Driven by Market Rally and Institutional Interest
Ethereum (ETH) has once again breached the $2,700 mark, marking its third time this year. On June 10, 2025, ETH saw an 8% price increase, reaching its highest point since May 29. This surge comes after a modest Bitcoin-led market rally that started the day before.
Several factors are fueling ETH’s upward momentum. one is the record-breaking amount of staked ETH, now at 34.65 million, according to Beaconcha.in. This represents about 28.7% of the current circulating supply.
Additionally, Ethereum-tied exchange-traded funds (ETFs) have seen significant inflows. Over 16 consecutive days, these ETFs have accumulated nearly $900 million.The total inflows now stand at $3.38 billion, holding 3.77 million ETH worth $9.8 billion.
- Institutional investors are also showing interest. BlackRock has reportedly bought over $500 million in ETH.
- Digital asset manager Abraxas Capital purchased around 350,000 ETH worth approximately $837 million.
Despite these gains, ETH is still about 40.9% below its all-time high of $4,600. The $2,700 mark has been a strong resistance zone. A breakout above $2,737 could lead to further gains, potentially reaching $2,795.
However, if ETH falls below the $2,386 support level, it could trigger a decline. Momentum indicators like the Relative Strength Index (RSI) are showing bullish signals, but caution is advised.
