Ethereum News Today: Ethereum Fork Coins Surge Over 10% as Speculative Interest Grows

Ethereum-based fork coins have experienced a broad price surge in recent trading sessions, with several tokens recording gains exceeding 10%. According to HTX market data, the rally has been led by ENA, EIGEN, and OP, which have all climbed more than 10% in the past 24 hours [1]. The movement comes as Ethereum (ETH) traded near $4,200, triggering renewed interest in alternative Ethereum-based blockchains and related tokens [1].

ENA, a fork of Ethereum, has risen by 12.46% over the past 24 hours, now trading at $0.6954. EIGEN, another Ethereum fork, followed closely with a 11.88% increase, reaching $1.413. OP, the native token of the Optimism Layer 2 platform, climbed 10.4%, settling at $0.797. These gains have been mirrored by other Ethereum fork and meme coins, including SSV (up 13.24%), PEPE (up 11.45%), and COW (up 10.14%) [1].

The price action reflects growing speculative interest in Ethereum fork projects, many of which are positioning themselves as scalable alternatives to the mainnet. Investors appear to be betting on Ethereum’s ongoing scalability challenges and the potential for fork chains to offer faster transaction times and lower fees. The surge in volume and price has been largely organic, with no signs of coordinated manipulation or coordinated pump-and-dump strategies [1].

Despite the positive price momentum, analysts caution that the gains remain speculative. These fork projects lack proven fundamentals, robust use cases, or widespread adoption. Their value is heavily tied to market sentiment and short-term demand rather than technical development or real-world usage. As a result, the rally should be viewed as a speculative trade rather than a long-term investment opportunity [1].

The increased trading activity has also been supported by listings on major exchanges such as HashKey Global, which recently added tokens like PEPE and NOT. This suggests that investors are actively seeking exposure to high-potential but high-risk assets. However, the crypto market remains highly volatile, and traders are advised to assess their risk tolerance before engaging in such trades [1].

[1] https://www.theblockbeats.info/en/flash/306610