The price of Ethereum rose by 1.5% in the past 24 hours to reach $1835, while the cryptocurrency market as a whole declined by the same percentage today.
This rise comes at a time when the 24-hour trading volume increased to $15.9 billion, after being only $9 billion just two days ago.
This increase indicates renewed buying pressure and accumulation, as the alternative price also rose by 13% last week.
Since the price of Ethereum has remained down by 40% over the past year, it still has a long way to go, suggesting that more gains may be very close.
Are whales buying at lower prices? Ethereum price predictions are trending upwards after a $9 billion rise.
In fact, the assets under management for ETH funds amount to $9.2 billion, while its closest competitor - Solana - only has $1.3 billion.
This dominance stems from Ethereum's more established position as a first-layer network, where TVL still represents 51.3% of the entire crypto sector, not including Ethereum-based L2s.
Therefore, it is likely that this position will be built upon, with the price of Ethereum moving upwards concurrently.
In fact, ETH may not only reach $3000 by July, but it could also end the year at $4000.
A new high-potential altcoin may outperform Ethereum.
Although Ethereum has a solid foundation, its position as a stablecoin may mean that its price gains will remain relatively gradual.
Therefore, if traders are looking for quicker returns above average, they might consider diversifying their investments into newer tokens, including presale coins.
The latter often can rise significantly when first listed, with a promising candidate being Bitcoin Bull (BTCBULL), an ERC-20 token that has now raised $5.1 million in its ongoing ICO.