$ETH / USDC Market update

Price Update

- *Current Price*: Ethereum's current price is around $1,773.75, with a 0.27% increase in the last 24 hours according to CoinGecko, or $1,776.27 with a 0.27% increase as per Finnhub.

- *Market Cap*: The market capitalization stands at approximately $213.49 billion to $214.09 billion, ranking #2 among cryptocurrencies.

- *24-hour Trading Volume*: The trading volume is around $14.15 billion to $14.56 billion ¹ ² ³.

Recent Developments

- *Gas Limit Increase*: Ethereum validators supported raising the network's gas limit to 36 million on February 4.

- *ETF Approval*: The Ethereum ETF is waiting for US regulatory approval, along with around 70 other proposed crypto funds.

- *ZKsync Recovery*: ZKsync has recovered $5.7 million worth of stolen ZK and ETH tokens after the hacker agreed to return 90% of the funds.

Market Trends

- *Accumulation Addresses*: Ethereum accumulation addresses saw record historic inflows as ETH price fell to $1,400, but weak DeFi activity and a long-term downtrend challenge the chance of a bullish recovery.

- *Price Predictions*: Some analysts expect Ether's price to surge, with potential long-term implications for the market ⁴.