The recent surge in Ethereum (ETH) prices can be attributed to the following key factors: First, investors are optimistic about the exchange-traded fund (ETF) application submitted by Bitwise Asset Management to the U.S. Securities and Exchange Commission (SEC), which could drive ETH prices to $4,000 in December[^0^]. Second, the open interest (OI) in the futures market for ETH has significantly increased, reaching over $24 billion as of November 28, a record high, indicating strong investor participation[^1^]. Additionally, Ethereum's resilience and enduring market position, along with technological advancements and a continuously growing adoption rate, position it favorably for potential growth in 2024[^2^]. These factors collectively contribute to the rise in ETH prices.