Ethereum rose sharply overnight

Overnight, the leading altcoin ETH $2,213.35 Bridged Ether (StarkGate) -0.47% Market capitalization $41.98 million VOL. 24 hours $0.59 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:>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 $84.19 Binance-Peg SOL 0.61% Market capitalization $92.82 million VOL. 24 hours $0.2 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%.