Ethereum has shown significant growth, surpassing the resistance level of $2,600, leading to improved sentiments in the cryptocurrency market.
ETH Price Surge
At the time of writing, Ethereum's price has reached just over $2,640, gaining 0.9% in the last 24 hours. Over the week, its price fluctuated between $2,482 and $2,771, with a total increase of 0.2%. Over the past two weeks, ETH has risen by 4.4%, and an impressive 46.3% over the past month.
Institutional Investor Activity
Analysts link ETH's rise to increased institutional purchases. Crypto trader Doctor Profit reported a noticeable increase in buying from large players, including BlackRock. Additionally, a single whale wallet acquired over 108,000 ETH worth nearly $285 million in less than 24 hours. CoinShares data confirms that investment products based on ETH have attracted almost $1.2 billion over six weeks, marking the strongest inflow since December 2024.
Ethereum Foundation Restructuring
Despite the growing optimism, the Ethereum Foundation announced upcoming structural changes and layoffs within the Protocol Research and Development team. These changes focus on scalability and user experience. While aimed at long-term efficiency, such moves may introduce short-term uncertainty that could affect ETH's price.
Ethereum is displaying positive trends amid rising institutional investments, though internal changes within the foundation may cause short-term price fluctuations.
