Ark projects bitcoin price as high as $2.4 million

On Wednesday, the ethereum parent chain logged its highest-ever transaction count at over 2.5 million transactions, a roughly 34% increase from 1.9 million transactions on the first day of the new year, data from blockchain analytics firm Artemis shows. 

Artemis research analyst Alex Weseley told Sherwood News the largest drivers of the network’s transaction growth stems from Circle and Tether’s stablecoins, USDC and USDT, as usage of both are up over 200% year over year. 

“It has also been interesting to see that the average transaction fee has remained low at < $0.20 per transaction, compared to the $52 average transaction fee paid when transaction counts peaked in 2021,” Weseley added.

The all-time high follows the activation of Pectra and Fusaka last year, two network upgrades aimed at enhancing the scalability of ethereum. “The changes ethereum is making to scale the L1 are starting to pay off, though we are still in the early innings,” Weseley said.

The price of ethereum has increased ~7% in the past seven days, outpacing its peers bitcoin, XRP, solana, and dogecoin. Meanwhile, spot ethereum ETFs trading in the US have seen almost $415.9 million in total inflows during the year so far, with $175 million from Wednesday alone, per SoSoValue. 

Bitcoin is having a strong start to 2026 that could see it catch up with precious metals’ rally. Bitcoin ETFs are also rallying, and saw their second consecutive day of massive inflows, recording $843.6 million on Wednesday, according to SoSoValue, bringing the total for the week to $1.7 billion.

Jake Kennis, research analyst at Nansen, told Sherwood News that a combination of easing inflation fears, geopolitical safe haven demand, stronger ETF inflows, and a technical breakout above $94,000 to $96,000 resistance are all converging to push BTC toward $100,000.

“The rally has solid institutional and onchain backing, but elevated leverage in futures markets and profit-taking by top traders near the $97K–$100K psychological resistance could trigger volatility,” Kennis said.

While bitcoin has retreated after nearing key resistance levels, Timot Lamarre, director of market research at Unchained, said that despite the asset having been well off all-time highs, it is set up for a sustainable run above $100,000.

“Institutions continue to open up bitcoin buying opportunities to new pools of capital, the macro environment continues to move toward significant monetary easing, and governments, companies, and individuals continue to increase their bitcoin stockpiles,” he said.

The analytics team at B2BINPAY echoed the sentiment, saying that the market structure remains bullish, “with potential to reach $100–105K in the coming weeks, potentially reaching the $120K–140K range later in 2026 if demand stays in place.” 

A failure would likely mean a pullback to the $88,000 to $90,000 range, where liquidity is already concentrated, they said.

“Another crucial marker is leverage. Funding rates and open interest are far from extreme, with total OI at around $65B. That’s high. Yet, it’s still below the prior record/near-record zone seen in 2025, around $72B–$75B. So the market isn’t stretched,” the analysts said.

Not content with generating money through digital assets, BitMine Immersion Technologies is also attempting to cash in on another largely incorporeal industry: the attention spans of young people.

The ethereum treasury company announced a $200 million equity investment into Beast Industries, the holding company for the various ventures of YouTube star Jimmy Donaldson, aka MrBeast. While most of these operations revolve around digital content, we’d be remiss not to note that this also includes Feastables.

“MrBeast and Beast Industries, in our view, is the leading content creator of our generation, with a reach and engagement unmatched with GenZ, GenAlpha and Millennials,” said BitMine Chairman Tom Lee. “Beast Industries is the largest and most innovative creator based platform in the world and our corporate and personal values are strongly aligned.”

Beast Industries CEO Jeff Housenbold added that the company was looking forward to “exploring ways to further collaborate and incorporate DeFi into our upcoming financial services platform.”

However, in my personal view this is hardly the most eye-catching collaboration MrBeast has been involved with in the past 24 hours...