Why is Ether (ETH) price up today?

Dencun upgrade, anticipation of spot ETFs, and the broader market’s expansion significantly strengthen Ethereum’s optimistic outlook in February.

Ethereum’s native token, Ether (ETH), has experienced a notable surge this week, climbing approximately 12%, including an upside move of 1.5% today. This upward trajectory has propelled Ether’s value to $2,540, marking its highest price point since Jan. 19.

Several factors contribute to Ethereum’s price movements, from technical upgrades and market sentiment to broader economic indicators. Let’s delve into the reasons behind Ether’s price increase in recent days.

Ether’s gains today and this week come in tandem with broader crypto market trends. For instance, Bitcoin (BTC) comprises over 50% of the total crypto market capitalization and has grown by more than 15% week-to-date to around $48,600.

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