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Top 5 Reasons Why Ethereum Price Is Rising, Rally To Sustain?
The Ethereum price has surged nearly 3% today, grabbing the investors’ attention. Notably, the Ethereum performance has further gained notable traction as its surge coincides with the downturn performance of Bitcoin price during writing. Although the Spot Ethereum ETF buzz has likely bolstered investors’ confidence, there are other reasons as well that may have contributed to the recent gains in the Ether price.
5 Reasons Why Ethereum Price Is Rising Today
Although there could be a flurry of trends and macroeconomic events that may have fueled gains in the Ethereum price today, here we discuss the top five reasons behind the surge.
Ethereum ETF Buzz
The recent regulatory approval by the U.S. SEC for the Spot Ethereum ETF last week has fueled investors’ confidence. Although the Ethereum price witnessed volatile trading last week following the approval news, the investors seem to be shifting their focus toward the second-largest crypto by market cap this week.
Meanwhile, the success of the Spot Bitcoin ETF in the U.S., which sent the Bitcoin price to its new all-time high in mid-March, has contributed to the positive sentiment. Comparing Bitcoin’s performance, the market participants now anticipate Ethereum to show a similar performance.
Pectra Update Boosts Sentiment
Ethereum’s price surged today following the recent announcement that core developers plan to roll out the Pectra upgrade by the first quarter of 2025 in a crucial execution layer meeting. Pectra, succeeding the Dencun upgrade implemented in March 2023, incorporates the Ethereum Virtual Machine Object Format (EOF) and introduces EIP-7251.
Meanwhile, this update is expected to enable individual validators to stake up to 2,048 ETH, significantly higher than the current limit of 32 ETH. Besides, this upgrade, comprising 11 improvement proposals, is expected to enhance EVM code on both Layer 1 and Layer 2 levels, potentially reducing operational complexity for validators.
Also Read: Can TON Price Recover Soon Or A Bigger Fall Is Inevitable?
Pro-Crypto Stance of Donald Trump
In a recent Telegram update, QCP Capital said that the pro-crypto comments from Donald Trump might have triggered the Ethereum price surge today. Additionally, the report also suggests that the investors are shifting focus toward Ethereum from Bitcoin, with anticipation of growing institutional demand once the Spot Ethereum ETF starts trading.
Notably, Donald Trump has recently said that he is focused on the growth of cryptocurrency firms while deeming it as a “new and burgeoning industry“. In addition, he also expressed his view towards making the U.S. as a leading player in the digital asset space.
Analysts Bullish Outlook
Several analysts have offered a bullish outlook for the Ethereum price. For context, DeFiance Capital Founder Arthur has offered a bullish outlook for the Ethereum price, saying that the Ether price could hit $4,500 before the Spot Ethereum goes live in the U.S.
In addition, crypto experts Michael van de Poppe and Rekt Capital predict a surge in Ethereum’s value, citing low altcoin valuations and impending consolidation. Van de Poppe anticipates Ethereum hitting new highs, while Rekt Capital highlights potential benefits for altcoins as Ethereum consolidates a post-ETF rally.
Meanwhile, Rekt Capital also identifies a key support level for Ethereum, suggesting a weekly close above it will confirm bullish momentum.
Whale Accumulation Boosts Ethereum Price
Today’s surge in Ethereum’s price is also attributed to significant whale activity, as highlighted by Lookonchain’s recent updates. Last week, an Ethereum whale’s strategic purchase of 8,733 ETH, followed by a $24.7 million investment in Ethereum ecosystem tokens post-SEC approval, spurred bullish sentiment.
In addition, today, another whale withdrew substantial amounts of ETH and Ethereum meme coin PEPE Coin from Kraken, totaling millions in value. With consistent withdrawals since March, the whale has accumulated significant profits, signaling confidence in Ethereum’s long-term prospects.
Price & Performance
Ethereum price has surged 2.61% and exchanged hands at $3,902.23, after touching a 24-hour high of $3,950.87 in the last 24 hours. Simultaneously, its trading volume soars over 64% to $17.85 billion from yesterday.
Meanwhile, according to CoinGlass data, the Ethereum Futures Open Interest jumped 4.45% to $17.04 billion. On the other hand, the Ether Options Open Interest rose 1.63% from yesterday to $6.38 billion.
Also Read: 4 Top Altcoins To Rally This Week
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Payments company Ripple has partnered with HashKey Capital to launch Asia’s first XRP tracker fund. The new fund will track the price of XRP cryptocurrency, as per statements from both firms.
Ripple Steps In As Anchor Investor
Crypto community figure Crypto Eri first highlighted the partnership, noting that the San Francisco payments firm will invest in the new HashKey XRP Tracker Fund.
The fund is a major step towards extending institutional access to XRP in Asian markets. As HashKey reports, this is the first of potentially several such investment products in the region following the price performance of XRP.
Big XRP News in Japan 🇯🇵. @Ripple to make initial investment in Asia’s first #XRP investment product.
Professional investors get exposure to XRP without directly holding the asset. Investors can purchase the fund with cash or in-kind, and the fund is structured to accommodate… pic.twitter.com/Phs3UrVrAQ
— 🌸Crypto Eri ~ Carpe Diem (@sentosumosaba) April 18, 2025
Image: Kraken Blog
How The Fund Works For Investors
Investors of the fund may have flexible involvement options. The investors may give their contributions through conventional fiat monies or pay in kind. The structure of the fund grants the subscribers liberty to purchase or redeem shares per month.
HashKey’s Liquid Fund partner Vivien Wong identified XRP’s increasing relevance in the crypto space. She indicated that XRP has interested global companies that utilize it for different things, including tokenization of assets and as a store of value.
Ripple Sees Growing Demand In Asia-Pacific
Fiona Murray, the Managing Director of Ripple for Asia-Pacific, underlined the heightened demand for digital asset products within regulated frameworks for professional investors across the region.
The firms are not only focusing on the tracker fund. According to reports, they intend to seek other opportunities as well, such as introducing a money market fund on the XRP Ledger (XRPL).
Broader Context Of XRP Investment Growth
HashKey Capital has become a leading player in the cryptocurrency industry. The firm already provides investment products linked to Bitcoin and Ethereum, with both the Bosera HashKey Bitcoin Spot ETF and the Bosera HashKey Ethereum Spot ETF listed on the Hong Kong Stock Exchange.
The new XRP tracker fund is HashKey’s third cryptocurrency-tracking investment product. The company says it will convert the XRP product into an exchange-traded fund within two years, subject to required regulatory approvals.
This follows increased institutional demand for XRP. In the US, over 11 institutions have submitted applications to the US Securities and Exchange Commission to list spot-based XRP ETFs.
Featured image from Medium, chart from TradingView
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The price of Cardano has managed to stay resilient as market volatility has continued to grow, riding on new signals for ADA bulls to drive growth. Cardano has remained on the horizon over the past few weeks as it locked in to retail its ranking as the 10th largest cryptocurrency.
With technical indicators showing a potential rebound, such as the golden cross metric, the question remains whether the ADA price can break out of its current consolidation.
ADA and Mission With Market Bulls
Cardano’s price was $0.6282 at the time of writing, up marginally by 0.64% in 24 hours. ADA bounced back from a low of $0.6197 to a high of $0.6340 to extend its ongoing consolidation.
Despite this close trading range, the asset’s price will likely benefit from the positive shift in Open Interest. This metric, as measured by CoinGlass data, has jumped by over 4% in the past 1 hour, a visible change in direction.
With this short-term shift, the total funds committed to ADA in the market are now pegged at 1 billion, worth over $629 million. Open Interest is a key metric that depicts the total value of contracts opened in the derivatives market. The bigger this figure in dollar terms, the more likely a trend shift is.
This current adoption boost has placed the ADA price in the spotlight. With speculation growing on whether the ADA price could hit $3 or higher levels, commitment in the derivatives market can reshape sentiment.
Cardano Price and Golden Cross Setup
Over the past 7 days, the price of the top altcoin, now capped below the $0.6677 resistance level. However, this will change if the current Golden Cross formation plays out.
Per the ADA/USDT daily chart, two major indicators are flashing unique signals that must be watched closely. The Awesome Oscillator is still reading negative, a sign that, though bears remain in control, the excessive selloff might be thinning out.
The Golden Cross, on the other hand, is on the verge of a breakout. The short-term or 9-day Moving Average is about to exceed the long-term or 21-day moving average. If this trend materializes, the Cardano price breakout will be confirmed.
With this signal, an ADA price analysis that teased $4 may be possible despite recent whale selloffs.
Cardano In the News
Amid the sustained dynamic trends in the crypto market today, ADA has remained in the spotlight over the past week.
As reported by CoinGape, the long-anticipated Cardano-Bitcoin staking is likely to become a reality soon. This is a major complement to the growing list of ADA ETF products now filed with the Securities and Exchange Commission (SEC).
If approved alongside other altcoin ETFs, it might usher in another era of institutional adoption for Cardano, setting the coin up for price breakout.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Master Kenobi has provided a bullish outlook for the Dogecoin price, predicting that it could reach a new all-time high (ATH) in 55 days. He revealed what needs to happen for DOGE to achieve this milestone by June, based on his 55-day target.
How The Dogecoin Price Could Reach A New ATH By June
In an X post, Master Kenobi stated that the Dogecoin price will likely reach a new all-time high within approximately 50 to 55 days once it breaks above the trendline he highlighted on his accompanying chart.
The chart showed that the crucial price level DOGE needs to break above, based on this trendline, is $0.15488. The analyst then remarked that a conservative price target for the top meme coin would be $0.90 by June 5-10.
Master Kenobi had made this prediction while alluding to an earlier post in which he indicated that the Dogecoin bottom was almost near. In that post, he stated that the last time DOGE experienced a downturn, there was a 100-day period from the local bottom to the local top. He noted the meme coin is now halfway through a similar timeframe.
In line with this, the crypto analyst expects the Dogecoin price to reach a new all-time high (ATH) during this period, although he admitted that it is unclear whether it will break the psychological $1 level.
Crypto analyst Kevin Capital also suggested that a massive rebound was on the horizon for the DOGE price. In an X post, he stated that everything is going according to plan for Dogecoin. He urged market participants to stay patient, noting that every day that passes is another day closer.
DOGE Traders Remain Undecided At The Moment
In an X post, crypto analyst Trader Tardigrade indicated that DOGE traders are currently undecided on the meme coin’s next move. In an X post, he stated that the Dogecoin price structure has been converging into a triangle pattern, indicating market indecision.
He noted that during this period, buyers hesitate to buy high, while sellers are cautious about selling low, leading to conservative behavior on both sides. The analyst added that this pattern typically occurs between a downtrend and an uptrend.
This market indecision currently explains why DOGE investors continue to accumulate and dump their coins at will with no clear sign of active accumulation or a wave of sell-offs. As CoinGape reported, crypto whales recently dumped 570 million DOGE, as the Dogecoin price continues to trade sideways.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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