ETH Surges 3% to $3,477 as Institutional Demand and U.S. Crypto Legislation Fuel Rally

Ethereum (ETH) traded against Tether (USDT) has experienced a 3.05% price increase over the past 24 hours, with the current price on Binance at $3,477.78 and a 24-hour opening price of $3,374.86. The recent upward movement is primarily attributed to strong institutional interest, highlighted by SharpLink Gaming's significant ETH purchase and increased corporate holdings, as well as positive legislative developments in the U.S. regarding crypto and stablecoin regulation. Technical indicators show bullish momentum, with the Relative Strength Index in overbought territory, and trading volumes remain high, reflecting robust market activity and investor confidence. Ethereum's market capitalization is approximately $415.66 billion, with a circulating supply of about 120.71 million ETH, and the asset has seen a notable 23% gain over the past week.