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Cryptocurrency News Articles
Ethereum Soars 8%, Its Largest Surge in Over a Month, Igniting Crypto World
Apr 09, 2024 at 10:21 pm
Ethereum recent 8% surge marked its largest ever increase in over month, igniting the crypto ecosystem.
The recent surge witnessed Ethereum outperform major crypto assets such as Bitcoin.
According to BeinCrypto, the recent surge in Ethereum is fueled by speculation about potential US exchange-traded funds (ETFs) for Ethereum, sparking intense discussion among crypto community members.
Ethereum has a current price of $3,680, tallying a 62% year-to-date gain, closely trailing Bitcoin’s 68% rise.
Recently, backers of the spot Ethereum ETFs have reportedly engaged with the United States Securities and Exchange Commission feeling optimistic about the opportunity after the US SEC approved a spot Bitcoin ETFs in January, attracting over $59 billion in assets to the ETF.
Ethereum’s overall performance has led a speculation of the crypto asset ETFs being backed by financial heavyweights like Blackrock and Fidelity investments. However, the SEC final go-ahead remains uncertain.
In other news, Significant acquisition of Ethereum by crypto whales have been reported recently. Before the surge, over $35 million in ETH has been acquired by crypto whales, pushing the price above $3,400 on Monday.
Taking advantage of the Surge, Alameda Research, tied to the defunct FTX, has been very active in the Ethereum market.
Reports from Spot on Chain indicate a notable 4,000 ETH ($14.75 million) deposit by Alameda to Coinbase, the largest since a major rally in February.
The transfer to a centralized exchange like Coinbase indicates that the crypto firm has intentions to sell Ethereum.
Alameda Research’s wallets still retain substantial Ethereum assets, with $64 million in Wrapped ETH (WETH) and ETH.
According to experts, the large deposit by Alameda Research poses a complex situation for Ethereum. The deposit happened in a critical period with impending regulatory approvals and market movements set to significantly determine Ethereum’s trajectory.
What to Know
- Ethereum is the largest Altcoin by price and market cap. Its current Price is $3,680 with a market capitalization of $442.82 billion.
- Ethereum accounts for over 17% of the total $2.49 trillion market capitalization of all crypto currency assets.
- 1 Ether is currently worth N4.480 million
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- Solana's Slippery Slope: Price Prediction Points to Resistance Loss and Potential Further Drops
- Apr 30, 2026 at 09:08 pm
- Solana is struggling to break key resistance, signaling potential downside. Repeated rejections at $86-$88, coupled with a broken short-term pattern, point to targets as low as $67, or even $40, as sellers maintain control. Investors should watch critical support levels closely.
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- NYC's New Beat: Staking Systems, USD1, and Governance Drive Crypto's Next Wave
- Apr 30, 2026 at 03:02 pm
- From lucrative USD1 earning events to robust governance models, the crypto sphere is buzzing with innovations reshaping how we engage with digital assets, focusing on long-term commitment and stablecoin utility.
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- OKX Unveils Agent Payments Protocol: Ushering in a New Era of AI Transactions
- Apr 30, 2026 at 02:53 pm
- OKX launches its Agent Payments Protocol (APP), an open standard for AI-driven commerce, enabling agents to manage full business cycles. Explore the implications for AI transactions and agentic payments.
