Ethereum (ETH) seems to have lost its touch. The second-largest crypto project by market cap has struggled to gain momentum over the last few months. The asset last traded above the $3000 mark in early February of this year. Since then, ETH has been on a downward trajectory. Let’s discuss if the popular crypto will reclaim the $3000 mark in July 2025.
ETF Inflows Aren’t Helping Price?
Bitcoin (BTC) and Ethereum (ETH) ETFs have seen constant inflows over the last few days. ETH ETFs saw around $31.8 million inflows on July 1. While BTC is experiencing a price surge due to the ETF buys, ETH does not follow the same pattern.
Ethereum (ETH) is down 0.3% in the daily charts, 4.6% in the 14-day charts, 2.4% in the monthly charts, and 29.4% since July 2024. The second-largest crypto by market cap has maintained some gains over the last week. ETH’s price has rallied by 1.6% in the weekly charts.
Tom Lee Claims Ethereum Is The Next Bitcoin
According to Fundstrat’s Tom Lee, Ethereum (ETH) could be the new Bitcoin (BTC). Lee believes so because of the recent rise in stablecoin adoption. Lee highlights how stablecoins are built on the ETH network. He believes this aspect of the project makes it a solid consideration.
ETH experienced a rally in May after the Pectra upgrade. The update brought back ETH burns. The rally, unfortunately, was short-lived. Market volatility and global geopolitical tensions led to a market-wide correction.
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ETH’s current resistance is at the level of $2500. Any surpassing of this price point has the potential to catapult the asset to the $3000 mark. The question is whether ETH will be able to reach the mark of $3000 in July. The asset might possibly exceed the mark of $3000 in the event that the market situation improves. An interest rate cut from the Federal Reserve could also aid its rally.