Ethereum

<p><em><strong>The price of Ethereum keeps going up, surpassing $3000, as both Bitcoin’s dominance and the introduction of a spot Ether ETF contribute to the push toward $4000.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p>The price of Ethereum has surged above the significant milestone of $3000 for the first time in almost two years, with trading volumes seeing substantial increases. Analysts anticipate that factors such as the introduction of spot Ether ETFs and growing open interests will likely <a href="https://cryptosheadlines.com/institutional-investors-propel-ethereum-eth-rally-3000-next-target/" rel="noopener noreferrer nofollow">propel Ethereum’s rally</a> to $4000 soon, potentially outpacing Bitcoin’s performance.</p><h3 id="eth-price-surges-amid-market-correction">ETH Price Surges Amid Market Correction</h3><p>In the past 24 hours, the price of Ethereum (ETH) has rallied by nearly 3%, bucking the trend of a broader cryptocurrency market correction. This shift in trend contrasts with patterns observed in 2023, where <a href="https://cryptosheadlines.com/bitcoin-market-plunge-confirms-spacexs-innocence-in-billion-dollar-drop/" rel="noopener noreferrer nofollow">Bitcoin usually led the market</a>. This year, <a href="https://cryptosheadlines.com/tron-token-surges-190-outpacing-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">Ethereum has outpaced Bitcoin</a>, climbing by an impressive 28% compared to Bitcoin’s 21% advance, as noted by Bloomberg.</p><p><a href="https://cryptosheadlines.com/altcoins-surge-as-bitcoin-dominance-declines-by-2/" rel="noopener noreferrer nofollow">Bitcoin dominance has once again declined</a> to 51% as Ethereum gains momentum, leading to a surge in altcoin prices. This momentum is primarily driven by whales and crypto firms, who accumulated significant amounts of ETH after its price broke out above the $2600 level, following a retest to $2250.</p><h3 id="rising-sentiment-and-holders">Rising Sentiment and Holders</h3><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines008-1.jpeg?resize&#61;640%2C454&amp;ssl&#61;1" /></p><p>Source: Santiment</p><p>Recent sentiment data indicates an increase in ‘Social mentions of $3K and buying Ethereum’ this week. Despite a temporary dip in <a href="https://cryptosheadlines.com/cardano-surpasses-ethereum-in-recent-crypto-development-activity/" rel="noopener noreferrer nofollow">Ethereum’s price during the recent crypto</a> market selloff, the influence of fear of missing out (FOMO) on prices is evident. Moreover, Ethereum boasts an all-time high of 114.95 million holders, significantly surpassing the 5.22 million holders of Tether (USDT).</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><h3 id="ethereum-s-continued-rally-and-expert-predictions">Ethereum’s Continued Rally and Expert Predictions</h3><p>Analysts, including Michael van de Poppe, foresee a period of consolidation for Bitcoin in the coming months and suggest reallocating funds to the Ethereum ecosystem. Holding onto Ethereum (ETH) rather than engaging in day trading could prove profitable, especially with the potential approval of a <a href="https://cryptosheadlines.com/bloomberg-anticipates-spot-bitcoin-etf-market-to-reach-100-billion/" rel="noopener noreferrer nofollow">spot Ether ETF anticipated</a> in May.</p><p><a href="https://cryptosheadlines.com/shiba-inu-and-dogecoin-values-stall-as-bitcoin-price-revisits-50k-threshold/" rel="noopener noreferrer nofollow">Also Read:   Shiba Inu and Dogecoin Values Stall as Bitcoin Price Revisits $50K Threshold</a></p><p>A combination of narratives surrounding the spot Ether ETF, the Dencun upgrade, increasing demand for restaking and airdrop farming, along with robust ETHBTC charts across all timeframes, are expected to fuel Ethereum’s price rally for several weeks.</p><p>Over the past 24 hours, <a href="https://cryptosheadlines.com/ethereum-eth-price-surges-on-vitalik-buterins-ai-comment/" rel="noopener noreferrer nofollow">ETH price surged</a> over 3%, currently trading at $3,017, with a daily low of $2,875 and a high of $3,021. Although trading volume has slightly decreased, Ethereum options totaling 792K ETH, with a notional value of $2.4 billion, are set to expire. The put-call ratio stands at 0.49, with the max pain point at $2,400. Options and futures traders exhibit <a href="https://cryptosheadlines.com/render-token-surges-as-bullish-sentiment-dominates/" rel="noopener noreferrer nofollow">bullish sentiment</a> toward Ethereum, reflecting higher bets on its future performance.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Ethereum’s Price Climbs Toward $4000: What’s Driving the Rally?

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 22, 2024

Reddit Inks $60 Million Deal with Google to Boost AI Training Efforts

Stacks (STX) & Ethereum (ETH) investors go crazy for Kelexo (KLXO) presale as platform looks to 2...

Binance Under Fire in Nigeria as Presidential Adviser Urges Ban

Terra vs SEC: Pretrial Set; Do Kwon Faces US Extradition

ArithFi Research - A Deep Dive to 0 Fee 0 Slippage Trading

Federal Reserve Official Harker Shares Insight on Economic Trends and Monetary Strategy

Join our free newsletter for daily crypto updates!