$ETH

As of May 16, 2025, Ethereum (ETH) is trading at approximately $2,594.90, reflecting a 2.49% increase over the past 24 hours. The price has fluctuated between an intraday low of $2,496.89 and a high of $2,631.38.

This upward movement is partly attributed to the Ethereum Foundation's launch of the "Trillion Dollar Security" initiative, aimed at enhancing the blockchain's security for global adoption.

Analysts suggest that the recent price rally is driven by short covering rather than new bullish bets, indicating a shift in market dynamics.