Ethereum ETFs have recorded six straight days of inflows and hit a total of $146.9 million by mid-week.
This comes after their spot ETFs struggled initially, losing about $500 million in outflows by early November, falling far behind their Bitcoin counterparts.
Interestingly, while Ethereum and Bitcoin dominate the spotlight, there are also project launches like PlutoChain ($PLUTO) that could gain traction in the upcoming weeks.
Let’s check out all the details below and see what’s happening.
Is Ethereum Ready for a Historic Breakout? What’s Next for ETH?
Ethereum’s recent surge in inflows coincides with Trump’s election victory, hinting at a possible connection between political events and investor confidence.
Some believe the Trump administration might favor Bitcoin―potentially widening the gap between Bitcoin and Ethereum ETF inflows. However, Ethereum’s specific features could drive more institutional interest in 2025.
As per CoinGecko, Ethereum (ETH) is currently trading at $3,269.36, marking a 31.69% increase over the past seven days.
For example, Matt Hougan from Bitwise predicts Ethereum ETF flows will surprise many next year, pointing to increasing demand from institutions looking to gain ETH exposure.
Adding weight to this is BlackRock’s recent move to acquire its own Ether ETFs, signaling that big players are betting on Ethereum’s future.
These ETF inflows have also coincided with a solid price rally for Ethereum. ETH recently touched $3,300, up an impressive 40% in just a week. However, it’s currently facing resistance at $3,260, a critical level that traders are watching closely.
If Ethereum manages to break past this point, it could open the door to further gains, with some analysts eyeing $4,000 as the next big target.
Looking ahead, there’s growing chatter about ETH possibly hitting all-time highs above $5,500, especially if institutional interest keeps building.
Forbes forecasts for 2025 even suggest Ethereum could climb to $10,000, driven by a mix of market momentum and increasing demand.
With ETH inching closer to the $3,500 mark, many are watching to see if it can sustain this upward trend and solidify its place in the market.
At the same time, we’re going to see the release of a mainnet launch of a new project – PlutoChain ($PLUTO).
Below, we’ll see why this new L2 project could be worth a look in the next few weeks.
Plutochain ($PLUTO): Smart Contracts & DeFi for BTC
Bitcoin has always been the “heavyweight” asset in crypto, but let’s face it – it hasn’t exactly kept pace with the advancements in decentralized finance (DeFi).
PlutoChain ($PLUTO) could help with that as the first hybrid Layer-2 solution built to enable smart contracts and decentralized apps on the Bitcoin network.
By connecting Bitcoin’s strong security with the adaptability needed for areas like DeFi, NFTs, AI, and the metaverse, PlutoChain provides a way to broaden Bitcoin’s role in the blockchain space.
Right now, PlutoChain’s native token―$PLUTO―is available in its presale phase for just $0.102. Early investors can lock in this price before it jumps in the next round.
PlutoChain focuses on keeping transaction fees low and processing times fast – two things that make Bitcoin more practical for developers and users alike.
As the demand for expanding Bitcoin’s use cases beyond simple transactions grows, PlutoChain’s timing is quite favourable.
Another big feature of PlutoChain is its compatibility with the Ethereum Virtual Machine (EVM).
This could allow developers to move their Ethereum-based DeFi apps to Bitcoin without rewriting code, essentially creating a bridge between Bitcoin and Ethereum.
Considering Bitcoin’s DeFi market is barely scratching the surface – only 0.13% of its $1.5 trillion market cap compared to Ethereum’s 10% – PlutoChain could be an interesting addition to Bitcoin.
To put things into perspective, CORE, another Bitcoin Layer-2 project, is already valued at $2 billion, while PlutoChain is starting with a presale valuation of just $30 million. That leaves a lot of room for growth.
Security is also a top priority for PlutoChain. The project has passed an audit by SolidProof, a leading blockchain security firm, to ensure assets are protected.
Regular audits and smart contract monitoring further strengthen PlutoChain’s defenses, giving users peace of mind.
The Bottom Line
PlutoChain’s roadmap is ambitious, with plans for testnets, bridge launches, and a mainnet launch.
For those curious, their whitepaper breaks it all down into more details and the $PLUTO community is active on Twitter, Telegram, and Discord.
If you’re looking for a project that’s still in its early stages, this could be an interesting option to consider.
