Ethereum rose sharply overnight

Overnight, the leading altcoin ETH $3,341.88 Bridged Ether (StarkGate) -1.75% Market capitalization $0.3 billion VOL. 24 hours $1.43 billion suddenly jumped 8.9%. Cryptocurrency analysts note that this has led to the return of «some bullish sentiment on Ethereum.»

«ETH's revenge is here,» said Jordi Alexander, chief investment officer at Selini Capital, in a post on X (formerly Twitter) on December 27.

Alexander pointed to the recent rise of several altcoins and Сейлор" href="https://noworries.news/biography/majkl-dzh-sejlor/" data-bio-id="3672">Michael Sailor 's $ 615 million purchase of bitcoin as «a solid foundation for ETH to grow over the next few weeks.»

«The risk/reward ratio on Ether is so compelling that I can see a liquidity black hole forming in January,» the crypto expert added.

In turn, crypto trader Pentoshi sees the potential for ETH to grow to $ 3,485 per coin.

«At first, slowly, and then all at once,» the analyst noted.

Although ethereum has grown by 102% since the beginning of 2023, its price performance has been overshadowed by that of Solana SOL $184.27 Solana -1.34% Market capitalization $88.33 billion VOL. 24 hours $0.72 billion , which has grown by 1017% since the beginning of this year.

At the time of writing, the main altcoin is trading at $ 2,379, which is almost 7% higher than yesterday. The total amount of coins circulating on the market is $ 285.9 billion. Traders made daily trading deals worth $ 17.6 billion. Ethereum’s market share remains at 16.9%.