Ether Prices Rallied 50% In A Month As ETF Staking Optimism Fueled Gains
Ether prices have risen sharply over the last month, climbing roughly 50% as the digital currency benefits from bullish factors including anticipation surrounding the approval of rules that would allow spot-based ether exchange-traded funds to offer staking.
The world's second-largest cryptocurrency by total market capitalization reached $2,713.78 today, according to Coinbase figures from TradingView.
This compares to an intraday high of roughly $1,800 that the digital asset attained approximately one month ago on April 27, additional Coinbase data from TradingView reveals.
'Ether's rally has largely been driven by renewed optimism around a potential spot ETH ETF approval, which caught many investors off guard,' Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, stated via email.
'The shift in regulatory tone — especially the SEC's engagement with issuers — triggered a sharp short squeeze, as ETH had been one of the most heavily shorted large-cap tokens in recent months,' he continued.
'That initial move was then reinforced by broader market strength, improved risk sentiment, and ETH's relative underperformance earlier in the cycle, which made it a natural catch-up trade," DiPasquale claimed.
The TikTok influencer who goes by Wendy O also weighed in on the recent applications requesting that spot-based ether ETFs offer staking, stating through email that these are the reason why the digital currency has been enjoying notable gains as of late.
Other analysts offered differing explanations. George Kailas, CEO of Prospero.ai, credited a short list of bullish factors with fueling ether's recent upward movement.
'As we've discussed before, I think cryptocurrencies as a whole have become the most popular way to trade risk, especially given the favorable regulatory environment providing high upside and more limited downside than a growth stock that could be directly impacted by tariffs,' he via email.
'The Pectra Upgrade is positive signaling at the right time. A fairly substantial update to everything from scalability, to security and staking efficiency,' said Kailas, 'Which in turn attracted heavy ETF flows.'
'And all of this is amplified by the GENIUS Act,' he stated, which drew more investment dollars to cryptocurrencies in general. However, Kailas noted that the price movement created by the market's reaction to Pectra combined with this legislation to make ether look rather compelling to investors.
Tim Enneking, managing partner of Psalion, also shed some light on the situation, stating through email that 'ETH has just been hopelessly lagging BTC and most of the market.'
'ETH needs to essentially double without BTC moving at all simply to get to its ATH from almost three years ago," he added, emphasizing that 'Meanwhile, BTC is up 70% from its last ATH.'
'ETH developers had become complacent (arrogant?) because the Ethereum blockchain was so successful. However, that complacency led to challengers, even EVMs, catching up and, in many cases, outperforming Ethereum,' stated Enneking.
'More recently, however, ETH developers have felt the heat and have begun to innovate better and faster. The pace and substance of upgrades have increased – and I would submit that is what is moving the price,' he said.
'However, ETH has a *long* way to go to retake the blockchain lead, especially given that its 'dominance' has plunged from around 30% to less than 10.'
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