The price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has surpassed the $4,300 threshold. This level marks territory not witnessed since December 2021.
Recent weeks have seen ETH surge over 43%, driven by a confluence of significant factors. Analysts attribute the rise primarily to a weakening U.S. dollar and a notable increase in demand from institutional investors seeking cryptocurrency exposure.
Adding crucial momentum was the recent regulatory clarity provided by the U.S. Securities and Exchange Commission. This development has enhanced Ethereum’s appeal as a viable, long-term investment asset among institutional circles.
Simultaneously, Ethereum has been gaining significant market share compared to Bitcoin. Bitcoin’s dominance, representing its share of the total cryptocurrency market value, has declined from around 62% to below 58%.
This surge and shift in market share reflects a dynamic shift within the digital asset landscape, with capital increasingly favoring Ethereum relative to Bitcoin.
The current market activity signals a strong bullish sentiment for Ethereum, underpinned by improving macroeconomic conditions for crypto assets and increased institutional confidence.