Ethereum's recent price surge is driven by a shift in investor sentiment and regulatory clarity. Outgoing SEC Chair Gary Gensler's comments, clarifying that Ethereum has not been classified as a security, have eased regulatory concerns, fostering a more optimistic outlook. Additionally, the introduction of Lido Impact Staking, which allows users to direct staking rewards to social impact projects, has created a new use case for Ethereum, potentially attracting more interest and investment. The broader cryptocurrency market rally, with Bitcoin reaching new highs, also positively influences Ethereum's price movement.
The Volatility Shares Trust 2x Ether ETF (ETHU) experienced a significant rise, climbing 13.57% to $7.95 at 3:00 PM on Wednesday, January 15.