Ethereum Spikes to Over $2,300 Amid Rising Market Greed Signals
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Ether (ETH), the world’s second-largest crypto asset by market capitalization, has surged to over $2,300. According to CoinGecko data, the digital asset is currently up 4.5% over the last 24 hours.
While the digital asset has experienced a prolonged bloodbath over several months, prompting many traders and investors to sell out of fear of losses, the latest spike has shown signs of renewed optimism.
Notably, alongside the price increase, ETH’s strength compared to the leading crypto, Bitcoin (BTC), has also improved. It reached its highest level since late January this year, according to recent data.
Market Focus Shifts from BTC to ETH
Interestingly, this shift suggests capital is rotating back into ETH after a period in which BTC led most of the gains. As of now, BTC is trading at over $74,500. Previously, the apex asset has hovered between specific price levels, fueling bearish sentiment.
Meanwhile, one significant factor behind ETH’s rally is the rise in funding rates across major crypto exchanges. Funding rates are used in futures trading to keep prices in line with the spot market.
There is also a growing greed in the market. When too many traders move in the same direction, especially with high leverage, it can increase the risk of sudden price corrections.
Institutional Accumulation Boosts ETH Confidence
Despite this risk, Ethereum’s current momentum remains strong. Prominent companies are heavily acquiring the asset. For instance, BitMine Immersion, the largest public holder of ETH, has been aggressively stacking ETH over time. This move has positioned the entity as one of the biggest players in the crypto space.
Recently, the firm reported its total holdings of $11.8 billion, combining digital assets, cash, and strategic investments. The company revealed that as of April 12, 2026, it held 4,874,858 ETH, valued at roughly $2,206 per coin.
The Ethereum network also continues to benefit from ongoing development and growing adoption. In line with developments, Vitalik Buterin, Ethereum’s co-founder, outlined a fresh roadmap for scaling the Ethereum network.
According to Buterin, the new roadmap will split progress into near-term upgrades under Glamsterdam and long-term shifts towards zero-knowledge and improved data handling. This move may play a crucial role in Ethereum’s long-term growth and confidence.
The post Ethereum Spikes to Over $2,300 Amid Rising Market Greed Signals appeared first on CoinTab News.
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