Ethereum Surges to $3,500, Hits Four-Month High Amid Trump-Led Crypto Rally

ETH Surges to Highest Price Level Since May as Crypto Market Shows Signs of Recovery

  • Ethereum price reached $3,500, marking a four-month high before settling at $3,475
  • ETH showed 3.6% daily gains and 11.4% weekly growth, leading performance among top cryptocurrencies
  • $24.6 million in Ethereum short positions were liquidated in 24 hours
  • Ethereum ETFs recorded $91.3 million in inflows following six days of outflows
  • Trump family’s World Liberty Financial project on Ethereum network suggests increasing mainstream adoption

Ethereum Breaks $3,500 Barrier in Latest Rally

Ethereum (ETH) hit a significant milestone Monday morning, reaching $3,500 for the first time since July 21.

- Advertisement -

The cryptocurrency has since stabilized at $3,475, according to CoinGecko data.

The second-largest cryptocurrency by market capitalization demonstrated strong performance with a 3.6% increase over 24 hours and 11.4% growth over the past week.

Market Performance and Liquidations

Ethereum’s recent surge has outpaced its major competitors, with Bitcoin rising only 1% and Solana gaining 1.4% in the same period.

The rally triggered significant market movements, resulting in $24.6 million worth of Ethereum short positions being liquidated within 24 hours.

Despite the current rally, ETH remains 28.4% below its all-time high of $4,878 recorded in 2021.

ETF Activity and Institutional Interest

Institutional interest in Ethereum has shown positive signs, with ETH ETFs recording $91.3 million in inflows on Friday.

- Advertisement -

This influx follows a challenging period of six consecutive days of outflows totaling $222.7 million.

Political Landscape and Crypto Adoption

The cryptocurrency market has responded positively to Donald Trump‘s election victory and his pro-crypto campaign promises.

These promises include establishing a strategic Bitcoin reserve and reducing SEC regulatory pressure on cryptocurrencies.

- Advertisement -

The Trump family’s involvement in the Ethereum ecosystem through World Liberty Financial, a borrowing and lending platform, signals growing mainstream acceptance.

The platform plans to launch a USD-pegged stablecoin, though Trump and his family members are not official employees of the project.

Year-to-Date Performance Context

Ethereum’s yearly performance has lagged behind other major cryptocurrencies, with a 49% increase since January.

In comparison, Bitcoin has gained 133%, while Solana has appreciated by 150% during the same period.

This recent price movement represents a potential shift in market sentiment toward Ethereum, following months of relatively modest gains.

Previous Articles:

- Advertisement -

Latest News

FHFA Orders Fannie, Freddie to Consider Crypto as Mortgage Collateral

The U.S. Federal Housing Finance Agency ordered Fannie Mae and Freddie Mac to consider...

Retail Investors Can Now Buy Tokenized Shares of SpaceX via Blockchain

Retail investors can now buy blockchain-based fractional shares in SpaceX through Republic. These digital tokens...

EU Commission Eases Stablecoin Stance, Calms Bank Run Concerns

The European Commission downplayed the risk of bank runs linked to stablecoins after concerns...

Iranian Hackers Launch AI-Driven Phishing Attacks on Israelis

An Iranian state-backed Hacking group targeted Israeli journalists, Cybersecurity professionals, and academics in a...

Nasdaq Integrates Canton Blockchain for 24/7 Collateral Management

Nasdaq has integrated blockchain technology from the Canton Network into its Calypso platform to...

Must Read

14 Ways On How to Make Money with Cryptocurrency

Many people want to make money with cryptocurrency because they have heard the success stories of people who became millionaires from zero.If you...