Ethereum Breakthrough: ETH Price Reaches 5-Month High, Ecosystem Soars

Ethereum (ETH), the second-largest cryptocurrency in the world, has just reached a milestone of $3,680, the highest level since June 2024. In the past 24 hours, the price has increased by nearly 10%, bringing the total growth to over 50% since the beginning of November.

The strong recovery of ETH not only brings optimism to investors but also drives tokens within the Ethereum ecosystem to grow significantly. Notable representatives include ENS, AAVE, ENA, and others, all recording remarkable jumps.

An important factor contributing to this surge is the supply of the stablecoin USDT on the Ethereum blockchain, which increased by an additional $14 billion in November. This helps Ethereum reclaim its position as the blockchain holding the most USDT since mid-2022, creating a solid foundation for the continuous growth of the ecosystem.

Long-term Signals

Analysts believe this could be the beginning for ETH to break through to the $10,000 mark in the future. However, this journey may take several years, depending on the development of the ecosystem, macroeconomic factors, and the widespread adoption of Ethereum in finance and technology fields. Investors need to be patient and carefully consider the short-term market fluctuations.