The Ethereum ecosystem surges as ETH price rises to a 5-month high

The price of Ethereum (ETH) has surged to 3,680 USD, marking a 5-month high and creating a significant recovery for the Ethereum ecosystem. This growth not only reflects the success of ETH but also drives the price increase of many other tokens within the Ethereum ecosystem such as ENS, UNI, AAVE, and EIGEN. In just the past 24 hours, the price of ETH has increased nearly 10% after trading for several days in the range of 3,200 - 3,300 USD. Since the beginning of November, ETH has risen over 50%, indicating a positive signal in the context of the cryptocurrency market as a whole.

Additionally, the increase in the volume of USDT stablecoin on Ethereum, with 14 billion USD added in November, has made Ethereum the blockchain with the largest amount of USDT, supporting sustainable growth for the ecosystem. This, combined with the recovery of ETH, has attracted strong interest from investors, facilitating the robust development of DeFi projects on Ethereum.