Ethereum News

Ethereum rallies as traders bet on $4K target and altcoin season

Nemo

Ethereum‘s price has reclaimed momentum, climbing above the $3,400 level for the first time since mid-January, according to CryptoSlate’s data.

The asset posted a strong 9% rally in the past 24 hours, marking a significant recovery after months of underperformance compared to Bitcoin.

ETH outperforms Bitcoin

Dean Chen, an analyst at Bitunix, noted that ETH’s recent rally follows a steep downturn in April when tariff shocks triggered widespread panic.

Since then, Ethereum has climbed more than 150%, far outpacing Bitcoin’s 65% gain over the same period. This divergence suggests a growing risk appetite among traders looking beyond BTC for more substantial returns.

As a result, altcoins across the board are benefiting from this shift. CryptoSlate’s data shows that Solana, XRP, Cardano, and Dogecoin posted gains of over 5% in the past day.

Veteran trader Peter Brandt has called this performance the official start of “altcoin season.”

That view is supported by blockchain analytics firm Coinglass, whose Altcoin Season Index hit 39 this week, its highest reading since February.

Altcoin Season Index
Altcoin Season Index (Source: Coinglass)

At the same time, total market capitalization for altcoins has seen a notable uptick, pointing to renewed investor interest outside Bitcoin.

What is driving Ethereum’s price rally?

Chen stated that Ethereum’s climb is tied to fundamental factors and not just market speculation.

Moreover, the shift in ETH’s market performance reflects a broader change in sentiment toward the network itself. Ethereum is increasingly seen as the foundational layer for innovations like stablecoins and asset tokenization, which has led to growing interest from institutional investors.

Ryan Adams, the co-founder of Bankless, said:

“We’re finally talking about ETH the asset and slowly starting to value it the way it should be valued. As a world reserve asset. ETH is like gold or bitcoin with yield.”

This is evidenced by the growing inflows into the US-listed spot…

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