Ethereum, the second largest cryptocurrency, is witnessing a significant recovery, hitting key milestones and igniting market enthusiasm.
Ethereum's Growth and Record Checks
According to analytics firm Santiment, Ethereum has surged over 50% in less than four weeks, reaching price levels not seen since late January. The current price of ETH is above $3,400.
Impact of Institutional Inflows and Social Activity
The growth of Ethereum has also been noted in connection with increased institutional accumulation and active discussion on social media. Data shows that in the last 24 hours, ETH was the most discussed cryptocurrency on platforms like X, Reddit, and Telegram. 'The crowd has taken notice of the major price rebound, resulting in the highest levels of discussions since May 2024,' Santiment reported.
Market Outlook and Expectations
In the last 24 hours, Ethereum rose by 10% to trade around $3,450. According to SwissBlock, ETH is becoming increasingly attractive for liquidity, with the number of active wallets reaching 152.03 million. There are expectations that the price of Ethereum may hit $4,000 imminently.
Ethereum shows significant growth in popularity and active user participation. Resources and analysts see this increase as a potential foundation for future price records.
