Ethereum is suddenly the belle of the crypto ball once again, leaving rivals like Solana in its wake.
After stagnating for more than a year, Ethereum has clawed its way back into relevance this quarter.
Its price is up 44% in the last month, massively outperforming Solana’s modest 7% and even besting Bitcoin’s 26% uptick during the period.
And the main reason why? Ethereum, once again, is winning the confidence of investors that it can rewire finance.
“The recent rally in Ethereum’s price isn’t just about short-term positioning, but rather is a reflection of a deeper shift in the market’s understanding of what the future of blockchain infrastructure will look like,” Dom Harz, cofounder of BOB, a hybrid layer 2 blockchain, told DL News.
That proposition is appealing to institutional investors.
Ethereum exchange-traded funds have consistently notched positive daily flows in the last month. Meanwhile, Bitcoin ETFs have recorded $1.2 billion in outflows this week