Ethereum price surpasses $3400 level, igniting altcoin season

#AltcoinBreakout Ethereum's price recorded a remarkable increase, exceeding the $3400 level for the first time since January, with a 9% rise over 24 hours, reflecting a clear recovery after a lackluster performance against Bitcoin in recent months.

The analysis indicates that Ethereum has recently outperformed Bitcoin, achieving gains exceeding 150% since April, compared to only 65% for Bitcoin, demonstrating an increasing risk appetite among investors.

The current momentum has reflected on alternative cryptocurrencies in general, with price increases in Solana, Ripple, Cardano, and Dogecoin, as analysts confirm that this movement represents the beginning of the altcoin season.

Observers believe that the rise is supported by strong fundamentals, most notably the increasing use of Ethereum in asset tokenization and stablecoins, as well as the interest of major institutions in it as a reserve asset, in addition to significant inflows into investment funds linked to it.

Market predictions favor continued rises, with 70% of traders on the “Polymarket” platform betting on reaching $4000 before the end of 2025, and 40% expecting it to reach $5000, while “ConsenSys” believes the price could reach $15800 by 2028.

Of course, all these remain mere predictions that carry the potential for accuracy or inaccuracy.