Ethereum News – Ethereum’s price soared 8.76% to $3,024.90, marking a four-month high. The rally was driven by $383.1 million in net inflows to Ethereum spot ETFs on July 10, with BlackRock’s iShares Ethereum Trust leading at $1.17 billion over eight weeks.
The U.S. Federal Reserve’s July 9 FOMC minutes, signaling potential interest rate cuts, further boosted risk assets, pushing Ethereum’s market cap to $357.16 billion with a 9.85% market dominance.The price surge followed a 32.7% jump in daily trading volume to $37.26 billion, reflecting strong institutional and retail interest.
The U.S. House’s ‘Crypto Week,’ starting July 14, is debating ETF approvals, with a crypto-friendly regulatory shift under the Trump administration fueling optimism. Ethereum’s role in DeFi, hosting 60% of smart contract activity, and Layer-2 solutions like Base, which saw a 20% transaction increase, enhance its bullish outlook.
Analysts at CoinMarketCap noted a 14.28% weekly rise, driven by short covering above the $2,600 “max pain” point from recent options expiry.Despite the momentum, risks remain.
Europol’s July 11 warning about Ethereum’s use in money laundering highlights regulatory scrutiny, and historical volatility, like the 2022 DAO hack, underscores potential corrections. Analysts predict Ethereum could test $3,500 if ETF inflows persist, but a failure to break $3,081 resistance may lead to consolidation.
The Fed’s dovish stance and institutional adoption position Ethereum for further gains, though macroeconomic shifts could impact its trajectory.
