Ether Surges 6.54% to $2,744.87 on Bullish Sentiment and High Volume

Ether (ETH) began its 24-hour trading session around $2,576 in early trading, briefly dipping to $2,562 before seeing a surge in buying interest around 21:00 UTC on June 9. This surge drove the turnover to top 436,000 coins. A second wave of demand just before 11:00 UTC on June 10 pushed ether through the $2,700 barrier to a 24-hour high of $2,783. By the end of the session, it was trading at $2,744.87, marking a 6.54 percent increase with 560,900 coins moved.

Social sentiment has turned decidedly bullish. A widely followed trader on X (@MerlijnTrader) observed that ether brushed aside the $1,500 and $2,200 thresholds with ease and now looks set to challenge $4,000 — and potentially even $10,000. This sentiment is supported by the advancing GENIUS Act, renewed buzz around Circle’s IPO and increasing regulatory clarity for stablecoins, which could drive outsized structural gains for Ether’s tokenization and settlement rails.

On-chain fundamentals also bolster the bullish case. Staked ether recently reached a record 34.65 million tokens, locking up roughly 28.7 percent of supply. This could tighten bids around current support near $2,720. Additionally, Consensys founder Joseph Lubin portrayed Ethereum as a nonstop settlement layer that processed over $25 trillion in transactions last year and serves as the backbone for stablecoins, tokenized assets, native yield and DeFi. He added that a $425 million private placement into SharpLink Gaming (SBET) aims to expose traditional investors to those yield opportunities.

Technical analysis highlights include two volume-backed breakouts: first above $2,600 on June 9 (436K ETH traded), then above $2,700 on June 10 (560.9K ETH). A clear series of higher lows and higher highs underpins a strong uptrend from $2,562 to $2,783. A high-volume supply zone now sits at $2,796, marking near-term resistance. A double-bottom formed between $2,720–$2,740 may support consolidation before the next leg higher.