Ethereum's price movement today can be attributed to a combination of factors, including increased investor interest and positive market sentiment. The cryptocurrency has seen a resurgence in demand, partly driven by the anticipation of a potential DeFi bull run following Donald Trump's election as U.S. President. His campaign's pro-crypto stance, including promises to ease regulatory pressures, has rekindled investor confidence in Ethereum and other DeFi tokens. Additionally, the Ethereum network has experienced heightened activity, with increased transaction fees, new wallet creations, and on-chain volume, all contributing to the positive sentiment surrounding ETH.
Moreover, the recent inflows into Ethereum exchange-traded funds (ETFs) have further bolstered the cryptocurrency's price. After a period of outflows, Ethereum ETFs saw significant inflows, indicating renewed institutional interest. This influx of capital into Ethereum-based financial products suggests that investors are positioning themselves for potential gains, as the market anticipates favorable regulatory developments and increased adoption of Ethereum's network capabilities.
Ethereum's price has risen by 1.71% today, reaching $3,364.25, with a high of $3,393.30 and a low of $3,307.60.