Ethereum\u2019s ether token climbed above $3,000 in early trading on 11 July, the first time it has crossed the level since February<\/p>\n
Ethereum\u2019s ether token climbed above $3,000 in early trading on 11 July, the first time it has crossed the level since February. The move extended a rally that began earlier in the week, when the price reclaimed $2,700, delivering a gain of roughly 15 percent in three days, according to market data compiled by CoinDesk.<\/p>\n
Traders attributed the advance to strong inflows into newly launched U.S. spot ether exchange-traded funds, which have accumulated about 129,500 ETH\u2014valued at roughly $383 million at current prices\u2014since listing. Momentum was reinforced by bitcoin\u2019s latest record highs as well as rising demand for tokenization projects and stablecoin activity on the Ethereum network.<\/p>\n
While ether remains below its 2021 peak, it is outperforming most major digital assets this week. Market analysts said a decisive hold above $3,000 could open the door to further gains, though they cautioned that macroeconomic conditions and regulatory developments will continue to shape appetite for the world\u2019s second-largest cryptocurrency.<\/p>\n