| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107354.9900000000 |
| ETH | $2438.1920000000 |
| BNB | $646.1692100000 |
| XRP | $2.1952780000 |
| ADA | $0.5636570000 |
| SOL | $149.7000000000 |
| DOGE | $N/A |
| DOT | $3.3756900000 |
| LTC | $86.8078000000 |
| LINK | $13.2466200000 |
Category: CRYPTO NEWS
The post Top Reasons Ethereum (ETH) Price Gained Today appeared on BitcoinEthereumNews.com. The Ethereum ecosystem has been buzzing with remarkable developments in the recent past amid rising altseason reckoning. Ether price is well positioned to rally towards its ATH in the coming weeks. Ethereum (ETH) price rallied over 8 percent in the past 24 hours to reach a daily and local high of about $2,702. The large-cap altcoin, with a fully diluted valuation of about $322 billion and a 24-hour average traded volume of around $31 billion, established a bullish sentiment following last week’s 40 percent uproar. Major Forces Behind Ethereum Price Pump Today Bullish Catalyst from Pectra Upgrade The recent mainnet launch of the Pectra upgrade has helped the Ethereum network become more competitive to other layer one (L1) chains, led by Solana (SOL). Moreover, the Pectra upgrade enhanced Ethereum scalability and efficiency, which is a key consideration by most institutional investors seeking to build and invest in the web3 space. Lower U.S. Inflation Amid Geo-economic Slowdown Earlier on Tuesday, the U.S. Bureau of Labor Statistics announced the country’s inflation dropped by 2.3 percent YoY in April. Amid the ongoing global trade negotiations led by the United States, the cryptocurrency market, led by Bitcoin, has emerged as an alternative investment to more institutional investors. Organic Spot Market Demand from Institutional Investors As the altcoins gradually gain ground over Bitcoin dominance, the overall demand for Ether by institutional investors has significantly surged. Notably, Ethereum’s Futures Open Interest (OI) surged by over 12 percent in the last 24 hours to hover about $32 billion on Tuesday, during the late North American trading session. Short Squeeze Impact Following the sudden Ethereum rebound in the past few days, a significant surge in short liquidation was recorded. In the past 24 hours, Ether’s leveraged market recorded more than $145 million in forced liquidations, with over $107…
2025-05-14T03:42:10+00:00