Ethereum (ETH) has reached a two-year high, rising above $3,000 for the first time since April 2022. This significant increase puts ETH at the forefront of the cryptocurrency market, specifically as anticipation grows regarding the potential approval in the U.S. of a spot Ether exchange-traded fund (ETF). However, at press time, the ETH price was trading at $2,914 a 1.18% decline from the intra-day high.
Ethereum Price Rally Amid ETF Speculation
The surge of Ethereum price to more than $3,000 at the beginning of Tuesday morning underlines the 71% annual growth of the digital currency and showcases its capacity to outperform Bitcoin in 24-hour gains. Driven by the rising tide of the general crypto market, this rally has sparked a great deal of trader enthusiasm, with many pegging a target of $3500 in expectation of approval for an ETH ETF.
Concern is growing about the possibility of a spot Ether ETF, given the success of spot Bitcoin ETFs that have hit the market earlier this year. Seve
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