Ethereum rallied to reclaim the $4,000 threshold, gaining nearly 4% over the past 24 hours to trade at $4,002. This bullish momentum coincided with a broader cryptocurrency market resurgence, where total capitalization grew 3% amid notable outperformance from altcoins.
The price surge reflects escalating network activity and staking demand, with Ethereum reaching a record 1.74 million daily transactions. Increased staking participation has tightened supply as more investors lock their holdings into the network, creating sustained upward pressure.
Regulatory developments also bolstered market sentiment, including favorable actions from the U.S. Securities and Exchange Commission that spurred optimism about Ethereum’s compliance outlook. These factors collectively propelled ETH to levels not seen in recent months, signaling renewed institutional confidence.