Ethereum’s price rally has brought it close to $5,000 amid renewed interest, driven by ETF speculation and increased network activity. Uniswap (UNI) is highlighted as a potential beneficiary of this trend, bolstered by governance changes and improved liquidity in the market. Additionally, macro factors are also favouring the price rise of altcoins tied to Ethereum’s success.
Ethereum is experiencing a significant surge, sparking renewed interest in the crypto market. After weeks of stagnant trading, the ETH price has surged past the crucial $3,800 mark and reached up to $4,200 over the weekend. It’s now just beneath its all-time high from 2021. Key factors behind this uptick include talks about exchange-traded funds (ETFs), increased deflationary dynamics due to network activity, and large transfers of ETH into cold storage. This has turned the spotlight towards Ethereum-based tokens, notably governance tokens that might benefit from this bullish trend. Uniswap (UNI), in particular, looks like a strong candidate for potential gains if ETH pushes beyond $5,000 soon.
