Ethereum Rallies to $2,720 as Market Turns Green, Altcoins Follow with Strong Gains

Ethereum (ETH) is showing strong signs of recovery after a sluggish performance in recent weeks. According to data from TradingView, ETH surged to US$2,720, marking a 4% increase in the last 24 hours.

This upward movement has reignited investor sentiment across the crypto space, especially among altcoin holders who have been watching the charts closely.

Ethereum’s recent rally pushed its market capitalisation to US$325 billion, placing it firmly as the second-largest cryptocurrency behind Bitcoin. In addition, its 24-hour trading volume soared to US$28 billion, indicating renewed interest from both retail and institutional investors.

Altcoins Join the Party

Ethereum’s bounce was not an isolated event. Several major altcoins also turned green, contributing to a wider recovery across the digital asset market.

• XRP (Ripple) posted a modest gain of around 2.7%, pushing its price up to US$2.46. The token has been showing signs of renewed momentum, buoyed by ongoing optimism surrounding Ripple’s legal battles and potential market expansion in Asia.

• Solana (SOL) also joined the bullish wave, jumping 5.7% to trade at US$183. With increasing developer activity and interest in Solana-based DeFi platforms, the token seems to be regaining its popularity among investors seeking alternatives to Ethereum.

These gains come amid a backdrop of improving market sentiment and growing anticipation of favourable macroeconomic conditions, including a potential pause in interest rate hikes by the US Federal Reserve.

What’s Driving the Market?

There are several catalysts behind this mini crypto rally:

1. Renewed interest in Layer 1 chains like Ethereum and Solana, especially as gas fees stabilise and new applications enter the market.

2. Institutional inflows into large-cap altcoins as traders diversify portfolios beyond Bitcoin.

3. Speculation around the next altcoin season, especially with several narratives (AI tokens, DePIN, and Restaking) gaining traction.

Market watchers believe that Ethereum’s performance is often a bellwether for broader market movements. When ETH gains ground, it tends to lift the altcoin space with it—something clearly reflected in today’s trading session.

The Road Ahead

While today’s movements are encouraging, analysts remain cautiously optimistic. Volatility is still part and parcel of the crypto landscape, and short-term gains can quickly reverse without sustained momentum.

That said, for long-term holders, Ethereum’s ability to reclaim key levels like US$2,700 could signal the start of a broader bullish trend—especially if market fundamentals continue to improve.

Investors are now keeping a close eye on upcoming economic data and global risk sentiment, which may determine whether the current rally can extend into the weekend and beyond.

Stay tuned for more daily crypto coverage and market updates. Follow us for the latest news on Ethereum, altcoins, and blockchain developments shaping the future of finance.

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