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ETH/USD: Ethereum Prices Soar Near Record as More Good News Hit — What’s Happening?

1 min read
Key points:
  • Ethereum soars near record
  • Crypto traders cheer Thiel’s moves
  • ETHZilla, BitMine, ETFs grabbing ETH

Wave after wave, Ether is enjoying tailwinds with the latest being a bold ETHZilla bet by Peter Thiel and an ambitious $24.5 billion fundraise by an ETH-holding firm. ETH ETFs? Overflowing.

🚀 Near-Record Rally

  • Ethereum ETHUSD ripped past $4,700 early Wednesday, closing in on its $4,860 record high from November 2021 — a level traders have been eyeing for years (altcoiners, it’s your time to shine).
  • Since April’s tariff-shock low of about $1,400 a piece, Ether has soared 240%, leaving Bitcoin’s 60% gain looking like a weekend stroll.
  • The latest leg higher is being powered by monster treasury buys, billionaire endorsements, and $1B-a-day ETF inflows. Let’s dive in.

💼 Thiel’s ETHZilla Power Move

  • Peter Thiel — PayPal and Palantir co-founder and early Facebook backer — snapped up a 7.5% stake in Ethereum treasury firm ETHZilla. The company is also known as biotech dud 180 Life Sciences.
  • ETHZilla said earlier this week that it has stuffed its balance sheet with 82,186 ETH at $3,806 each — now worth $349 million — bankrolled by $156 million in convertible notes and $425 million in private cash from over 60 heavyweight investors.
  • Shares of 180 Life Sciences ATNF exploded over 200% on Tuesday, tripling the market cap to $1.6 billion, as traders piled into the first biotech-turned-Ethereum-hoarder success story.

🏦 BitMine’s $24.5B Land Grab

  • Ethereum mega-whale BitMine BMNR, already holding $5 billion in ETH (up from $500 million a few weeks ago), filed with the SEC to raise up to $24.5 billion to supercharge its token stash.
  • The company’s moonshot target? Lock down 5% of Ethereum’s entire supply — about 6 million coins worth $26.5 billion — a grab that would cement its dominance in ETH treasury holdings.
  • Spot ETH ETFs in the US are overflowing with demand, smashing records with over $1 billion in a single day of inflows (Monday), underscoring the tidal wave of institutional FOMO.