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The crypto market witnessed decline after <a href="https://crypto.news/bitcoin-dips-3-on-false-sec-spot-bitcoin-etf-approval/">false news</a> about a Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) exchange-traded funds (ETF), but despite bearish sentiment in the market, Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) posted gains. 
ETH gained 3% in the past 24 hours and is trading at $2,380 at the time of writing. The second-largest cryptocurrency even got close to the $2,400 mark as the hacked X account of the U.S. Securities and Exchange Commission announced the approval of a spot BTC ETF. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/01/Ethereum-ETH-12.17.13-10-Jan-2024-1024x347.png" alt="Ethereum's price surges despite the market-wide chaos - 24" class="wp-image-14236455">
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 ETH price, whale activity, open interest and RSI – Jan. 10 | Source: Santiment
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Ethereum’s market cap is holding strong above $286 billion with a daily trading volume of $17.1 billion. 
 You might also like: <a href="https://crypto.news/spot-bitcoin-etf-issuers-file-new-ap-disclosures-with-sec/"> Spot Bitcoin ETF issuers file new AP disclosures with SEC </a> 
According to data provided by Santiment, whale transactions consisting of at least $100,000 worth of ETH surged by 7.9% over the past day — rising from 5,790 to 6,242 unique transactions in 24 hours.&nbsp; 
On the other hand, Ethereum’s Relative Strength Index (RSI) is currently hovering around 59, per Santiment. The indicator suggests that ETH is still in a good position for a further potential rally.&nbsp; 
While the increased whale activity suggests high price volatility, <a href="https://crypto.news/ethereum-layer-2-tvl-hits-21b-reaching-all-time-high/">Ethereum</a> could still hold its current price point if the RSI stays below the 60 mark.&nbsp; 
Following the price surge, according to the market intelligence platform, Ethereum’s total open interest (OI) increased by 4% over the past 24 hours — rising from $3.75 billion to $3.90 billion.&nbsp; 
 Read more: <a href="https://crypto.news/jim-cramer-switches-stances-bitcoin-topping-out/"> Jim Cramer switches stances, now says Bitcoin is topping out </a>

Ethereum’s price surges despite the market-wide chaos

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