This price move was partly driven by robust inflows into Ether spot exchange-traded funds (ETFs) and heightened activity on the Ethereum network, which helped restore investor confidence.
While Ethereum’s prices have seen a recent drop, traders predict this could be prep up for rally. North Korean hackers reportedly lost nearly half a million dollars betting on Ethereum's price rise.
Spot crypto exchange-traded funds have been very bullish for Bitcoin and Ethereum. Now, with an incoming pro-crypto Trump administration, more spot crypto ETFs will likely be approved in 2025.