A Fresh Surge in the Ethereum Price Is Electrifying the Market Again

Fresh impetus is pushing the Ethereum price higher again, kicking off a new leg of the bull market and setting the stage for interesting capital flows throughout the rest of the crypto ecosystem.

After weeks of sticky resistance at $3,800, ETH finally broke decisively on Friday, going on to kiss $4,200 in weekend trading and now trading a stone’s throw from its 2021 high. Several factors are fueling the move. ETF whispers are heating up again, with several trading desks placing year-end price targets on Ethereum as high as $7,000 in a spot ETF scenario.

On the technical side, ETH is 50-day EMA is rapidly rising and now trades well above the 200-day EMA, indicating strength across multiple time frames. A weekly candle close above $4,400 would also notch the highest candle body in history, opening the way for Fibonacci extensions that cluster around $5,300 and $5,800.

Finally, traders are also keeping an eye on improving ETH/BTC ratios; after bottoming around 0.048 in March, the pair has clawed back above 0.06, historically the zone where alt-season fireworks begin.

If those trends continue, attention could soon turn to the rest of the Ethereum ecosystem, particularly governance tokens poised to benefit from the rising tide. According to on-chain analytics dashboards, Uniswap (UNI) stands out as a prime candidate for spill-over gains if ETH punches through $5,000 in the coming weeks.

Ethereum (ETH): The Fundamentals Behind the $5 K Target

Ethereum’s springboard is stronger than it has been since late 2020. Net inflows to staking pools have accelerated to their fastest pace of the year, over 215 000 ETH added across Lido, Rocket Pool and EtherFi in the last four weeks.

Daily burn has also spiked; a frenzy of Ordinals-style inscriptions on layer-2s pushed network fees high enough to incinerate roughly 5 400 ETH last Monday alone, pushing the protocol back into net-deflation for the first time since January.

Meanwhile, the macro narrative keeps improving. Futures-based Ethereum ETFs enjoy healthy liquidity, and spot ETF re-filings from BlackRock (NYSE:BLK) and Fidelity are sailing through comment periods without fresh SEC objections. If a spot product lands before Q4, analysts at several trading desks see a repeat of January’s Bitcoin ETF effect, meaning institutional bid support could finally propel the Ethereum price through the $5,000 mark that has eluded bulls for three years.

Technically, ETH is coiled for continuation. The 50-day EMA is rising steeply and sits well above the 200-day EMA, indicating strength across multiple time frames. A weekly close over $4 400 would notch the highest candle body in history, opening the way to Fibonacci extensions that cluster around $5,300 and $5,800. Bulls also cite improving ETH/BTC ratios; after bottoming near 0.048 in March, the pair has clawed back above 0.06, historically the zone where alt-season fireworks begin.

Uniswap (UNI): Why the DEX Pioneer Could Run Next

If history is any guide, capital rotates into application-layer tokens once layer-1 majors establish leadership. Among Ethereum-based plays, Uni­swap’s UNI token stands in pole position. Uniswap V3 remains the world’s largest on-chain exchange by volume, often clearing $2 billion in a single day, numbers that rival centralized venues for select pairs. The protocol’s long-awaited fee-switch proposal is also back on the governance docket, with a final Snapshot vote penciled in for June.

That switch would redirect a slice of trading fees to token holders, effectively turning UNI into a yield asset over-night. A successful vote could tighten the float quickly; simulated models from Gauntlet show a 0.25 bp fee redirect burning or distributing roughly $240 million in fees annually under current volumes.

On-chain data confirms whales positioning early; since mid-April, wallets holding more than 100 000 UNI have added a net 4.7 million tokens, the fastest accumulation clip since late-2021. UNI also looks strong on the chart: it rounded off a sixteen-month base at $6–$7 and now rides solid support near $9. A measured-move target projects $15 in the short term, with previous cycle highs at $44 serving as a stretch objective if Ethereum mania really kicks in.

Beyond pure trading activity, regulatory optics are improving. Uniswap Labs recently unveiled an open-source hooks system designed to help DeFi front-ends screen for illicit addresses, a proactive move that