#MarketRebound

Ethereum explodes upwards above $2700.. Details of the rocket momentum!

June 10, 2025, 15:07

The price of the digital currency Ethereum witnessed a rocket-like surge on Tuesday morning, June 10, 2025, surpassing the $2700 level for the first time in 12 days, recording a daily jump of 9% and regaining its highest levels since May 29. This strong rise represents the third breakout of Ethereum above the $2700 level this year, achieving weekly gains of nearly 14% after trading near $2399.

The rise of Ethereum coincided with positive shifts in its ecosystem, as the volume of staked Ethereum reached a new record level of 34.65 million coins according to Bainanc data, which is equivalent to 28.7% of the current total supply of 120.8 million coins. Additionally, exchange-traded funds linked to Ethereum continue to attract massive inflows, with a total of $900 million over 16 consecutive days. Institutional buying support is fueling Ethereum's upward momentum, as reports revealed that BlackRock - one of the largest global investment fund issuers - raised more than $500 million in Ethereum over the past few days. This institutional demand was also reflected in the acquisition of 350,000 Ethereum coins valued at $837 million by Abraxas Capital, a digital asset management company, in early May.