- 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.
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.
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.
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.
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