Ethereum News Today: Ethereum Surges 140% in 98 Days, Aims for $3,522 as GENIUS Bill Looms

Ethereum’s price is nearing a crucial threshold, hovering around $3,295 and aiming to push past $3,300. Analysts are eyeing a move beyond $3,070-$3,050, which could propel the price towards $3,500. As Bitcoin’s stability hovers near $118,000, the scene is set for Ethereum’s continued ascent. The upward trend is dominant, aiming for a target of $3,522. Crucial to sustaining this momentum is holding the $3,181 level as a support base.

Over the last 98 days, Ethereum’s value has surged considerably, rallying from a low in April to rise by about 140%. The optimism surrounding a possible climb to $4,024 has brightened market moods, further reinforced by Bitcoin’s steadfastness. Positive indicators emerge from the ETHBTC pairing, exceeding the 0.0275 BTC mark and prompting speculation about potential levels between 0.0296 and 0.0328. Holding ground above the 0.0300 threshold could reverse a prolonged decline, with ambitions set towards the strategic 0.0501 BTC level, sparking renewed all-time high aspirations.

The primary driver behind Ethereum’s uptrend appears linked to Donald Trump’s unexpected political maneuvers, seemingly aiding the crypto sector. While short-term impacts are mixed, the prospects for decreased political obstacles loom in the longer term. Intriguingly, the GENIUS legislation emerges as another potential catalyst, boasting a 93% chance of landing on Trump’s desk by year’s end. If enacted, this legislation, aimed at yield-giving stablecoins, might eradicate some competition, benefiting Ethereum’s DeFi ecosystem. “Ethereum is soaring, and the GENIUS bill could be a significant factor,” analysts note. The bill targets yield-generating stablecoins, thus making ETH-based DeFi more appealing.

Market speculators seem to have anticipated these developments, positioning their investments favorably to capture increased capital influx into Ethereum-based protocols. Notably, the Sharplink treasury amassed $225 million in Ethereum, surpassing even the Ethereum Foundation. In another strategic move, Peter Thiel secured a 9% stake in Tom Lee’s Bitmine Immersion. As procedural votes wrap up for the GENIUS bill on the legislative floor, these financial and regulatory influences seem poised to play pivotal roles in Ethereum’s ongoing valuation ascent.

Ethereum has been making significant strides in the cryptocurrency market, with its price surging past $3,100, marking a 6% increase in the last 24 hours. This surge has positioned Ether as the top performer among the top 10 cryptocurrencies, outperforming Bitcoin, XRP, and Dogecoin. The bullish sentiment in the cryptocurrency market has been reinvigorated following a brief dip, with Bitcoin also recovering above $119,000 after a slight decline. Ether's rally is particularly noteworthy as it approaches the $3,200 mark for the first time since February 2025. This momentum is further bolstered by the recent acquisition of 74,656 ETH by Nasdaq-listed SharpLink Gaming, which has become the largest corporate holder of ETH. The company's holdings now total 280,706 ETH, following a $413 million raise from the sale of 24.5 million shares of its common stock. This acquisition underscores the growing institutional interest in Ethereum, with SharpLink earning 94 ETH from staking last week alone.

Technical analysis suggests that Ether's 4-hour chart is bullish but inefficient, indicating a potential drop to $3,080 before rallying to the first major resistance level at $3,437. If the bullish trend continues, Ether could reach $3,519, a level not seen since January 19. However, if the bulls fail to sustain this momentum, Ether could test the TLQ at $2,946. The RSI of 70 and the MACD lines in the positive zone both support a bullish bias for Ether. On-chain metrics further suggest that if the current momentum continues, Ether could potentially reach $4,900. This bullish sentiment is also reflected in the recent surge in institutional inflows, indicating a structural shift in market sentiment towards Ethereum. The breakout past $3,149, with a 6.2% gain in the last 24 hours, confirms the start of the altcoin season, further bolstering Ether's position in the market.

Analysts predict that if Ether sustains a strong move above the resistance levels at $3,220 and $3,470, it could surge by 17% towards $3,600. This prediction is supported by the recent performance of Ethereum, which has seen a 30.10% growth, reflecting the strong momentum in the market. The surge in daily transactions and the massive trading volume further underscore Ethereum's bullish outlook. In summary, Ethereum's recent performance and the growing institutional interest position it for potential new peaks. The bullish sentiment, supported by technical indicators and on-chain metrics, suggests that Ether could continue its rally, potentially reaching new highs. However, the market remains dynamic, and sustained bullish momentum will be crucial for Ether to achieve these targets.