Five months ago, Ethereum struggled to break past $3,000. Now, in a sudden twist of momentum, ETH has roared to life, shattering $3,336 and electrifying the crypto market.
Traders are calling it a turning point, and the question on everyone’s mind is: Has the next altcoin season officially begun?
After months of sideways movement, Ethereum has surged more than 20%, hitting $3,339 — its highest price since February.
As of now, ETH trades at $3,462.26, up 9% in 24 hours and over 23% this week. This explosive move is sparking renewed investor optimism and a rally across altcoins.
Ethereum’s rally aligns with U.S. legislative momentum, as Congress advances three major crypto bills. From stablecoin rules to blocking a digital dollar, the moves boost market confidence and signal regulatory support.
Network Growth Fuels Price Momentum
Ethereum’s price action is also backed by rising on-chain activity. Data from Santiment shows over 152.03 million non-empty ETH wallets, highlighting ongoing user adoption.
From DeFi to NFTs and staking, Ethereum remains the backbone of blockchain utility.
A major driver behind ETH’s rise?
Record-breaking ETF inflows. According to analyst Crypto Rover, Ethereum just saw its largest ETF inflow ever.
Consensys-backed SharpLink Gaming is now the largest ETH holder, with 280,706 ETH, surpassing even the Ethereum Foundation. Arkham data reveals the firm added another 20,279 ETH just this week — clear evidence of strong institutional interest.
Altcoin Season Heats Up
According to TradingParrot, the Altcoin Season Index has hit 39, signaling growing momentum. Ethereum’s powerful breakout — driven by strong fundamentals, bullish sentiment, and institutional inflows — is setting the stage for a full-fledged altcoin rally.
Meanwhile, Capitol Hill is echoing crypto’s momentum.
Congress is advancing three major crypto bills, signaling a regulatory green light that’s fueling both retail optimism and institutional confidence. The crypto comeback is real — and ETH is at the forefront.
Disclaimer:
I am not a financial advisor. This content is for informational and educational purposes only.
DYOR (Do your own research)