Ethereum (ETH) has been making waves in the cryptocurrency market, with its price rallying 3 percent in the past 24 hours to reach a daily local high of about $3090. The large-cap altcoin, with a fully diluted valuation of about $370 billion, gained nearly 5 percent against Bitcoin (BTC) in the past 24 hours, signaling the onset of the 2025 altseason.
In the weekly timeframe, the ETH/BTC pair continued its bullish trend that began during the second quarter of 2025. Market data from TradingView showed that the ETH/BTC pair gained 18 percent in the last four weeks, retesting the highest level since March 2025.
One of the key reasons behind Ethereum’s price rally is the renewed interest from institutional investors. U.S. spot Ether ETFs have seen a net cash inflow of about $1.35 billion in the first two weeks of July. Additionally, SharpLink Gaming recently announced that it has become the largest corporate holder of Ether, with a holding of 280,706 ETH.
The breakout of Ethereum after months of a choppy market has reinstated confidence in ERC20 tokens, especially DeFi tokens. The Ethereum network has significantly improved over the years to scale its throughput and reduce transaction fees, positioning itself to compete with other Layer 1 chains like Solana (SOL).
From a technical analysis perspective, Ether’s price movement mirrors a similar bullish pattern to the 2021 bull rally. The bullish sentiment is supported by the weekly MACD line crossing above the zero line for the first time since February 2025.
Ethereum-based memecoins, such as Shiba Inu (SHIB) and Pepe (PEPE), have also shown bullish sentiment, signaling a potential altseason. The crypto summer is expected to impact the entire top altcoin market, with coins that have strong fundamentals and community support likely to benefit the most.
Overall, Ethereum’s price rally and the positive market sentiment surrounding the network indicate that the 2025 golden times for the cryptocurrency are on the horizon. Investors and traders are closely watching the developments in the Ethereum ecosystem as the market continues to evolve.