Ethereum surged on Tuesday to its highest level since mid-November, outperforming bitcoin and driving broader crypto market gains. Ether reached just under $3,400, posting an 8.4% increase over 24 hours, compared with bitcoin’s 4.5% rise and the CoinDesk 20 Index’s 6% advance.
The ETH/BTC ratio, a key gauge of ether relative to bitcoin, climbed to its strongest level since late October, signaling rotation into ETH. Joel Kruger, market strategist at LMAX, attributed the rally to “improving regulatory expectations and renewed optimism around ETF-related inflows,” noting that staking may soon be integrated into funds.
A key catalyst was BlackRock’s filing for the iShares Ethereum Staking Trust on Monday, which would allow investors to earn yield from ETH staking. Kruger said the move “revives optimism around ETH-focused inflows and yield-bearing crypto products,” despite ongoing regulatory uncertainties.
Ether may also benefit from real-world asset tokenization, a growing trend bringing bonds, funds, and real estate onto Ethereum smart contract platforms.
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