U.S. Buying Frenzy Fuels 11% Ethereum Price Surge and Potential for Further Gains
• Ethereum (ETH) price has risen 11% in past week, driven by U.S. buying pressure on Coinbase according to data from CryptoQuant
• Significant increase in demand for ETH on Coinbase, a US-regulated exchange, seen in rising "Coinbase premium"
• Premium measures price difference between ETH/USD on Coinbase vs other global exchanges like Binance
• Rising premium suggests upward ETH price trend may continue next few weeks as indicator previously signaled surges
• U.S. buying spree could be from experienced traders accumulating and anticipation of potential U.S. spot Ethereum ETF approval