"Ethereum's price (ETH) has gone up 5% in the last 24 hours, reaching almost $4,000. This has made ETH's value increase by 27.5% in a week, beating Bitcoin's 3.8% gain. Analysts think ETH's price might keep going up because:
- It's broken out of a downtrend
- Trading volume is increasing
- It's underallocated in many portfolios
Some predictions say ETH could reach $4,500 or even $6,000 by the end of July, similar to Bitcoin's surge after ETF approvals. This growth has also boosted the decentralized finance (DeFi) market, with a total value locked of $117 billion, mostly on the Ethereum network. Additionally, Ethereum layer-2 networks are nearing a record high in total value locked."