$ETH

Ethereum resumes 'beast mode', soaring to a 15-week high on the journey to $3K

The price of Ethereum surged to $2,822, a high not seen since February 24, rising 4% in early Asian trading on Wednesday. This cryptocurrency broke through the previous resistance level of $2,700, with a target aimed directly at $3,000. Crypto trader 'Merlijn' stated that Ethereum is 'back in beast mode' and could reach five figures.

The recent rise was influenced by key events including Vitalik's scaling roadmap, the U.S. Securities and Exchange Commission's stance on staking activities, the Ethereum Foundation's financial policies, and the SEC's lenient attitude towards decentralized finance. Ethereum advocate Anthony Sassano expressed bullish sentiment, predicting that the asset's value could exceed $1 trillion.

Meanwhile, Bitcoin broke through $110,000 in Asian trading, and altcoins like Hyperliquid, Chainlink, and Uniswap also saw significant gains. The total market capitalization is approximately $3.57 trillion.