Ethereum
Why Ethereum is up 5.4% today
Analysis
Ethereum (ETH) rose 5.4% over the past 24 hours as ETF-related headlines boosted sentiment, including a filing tied to Trump Media to launch Truth Social-branded Bitcoin, Ethereum, and Cronos ETFs, which kept ETH in focus for potential mainstream access (Decrypt). Additional attention on Ethereum’s broader ecosystem came from Espresso network’s ESP token launch and airdrop amid ongoing layer-2 debates, reinforcing near-term interest in ETH-adjacent narratives (CoinDesk).
Contributing Factors (3)
Espresso network launches ESP token with 10% airdrop amid Ethereum layer-2 debate
The network transitioned to proof-of-stake and coincides with the rollout of the ESP token, which is used for staking, securing the network and protocol participation.
Trump Media Files to Launch Truth Social-Branded Bitcoin, Ethereum, Cronos ETFs
Truth Social Funds applied for ETFs that would give investors exposure to crypto—one focused on Bitcoin and Ethereum, the other on Cronos.
$257 Million in Bitcoin and Ethereum Sold by BlackRock
BlackRock has sent another $257 million in BTC and ETH to Coinbase amid market rebound.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.