Ethereum (ETH) price rallied 3 percent in the past 24 hours to reach a daily local high of about $3090. The large-cap altcoin, with a fully diluted valuation of about $370 billion, gained nearly 5 percent against Bitcoin (BTC) in the past 24 hours, thus confirming the onset of the 2025 altseason.

In the weekly timeframe, the ETH/BTC pair continued with the bullish trend that began during the second quarter of 2025. According to market data from TradingView, the ETH/BTC pair gained 18 percent in the last four weeks to retest the highest level since March 2025.

Ethereum Network Heavily Embraced By Institutional Investors

The Ethereum network has recorded a renewed interest from institutional investors in the past few weeks. According to aggregate market data from sosovalue, the U.S. spot Ether ETFs have recorded a net cash inflow of about $1.35 billion in the first two weeks of July.

Earlier on Tuesday, SharpLink Gaming announced that it became the largest corporate holder of Ether with a holding of 280,706 ETH.

Takeaway Points 

The Ethereum breakout after months of a choppy market has reinstated confidence in ERC20 tokens, led by top DeFi tokens. Furthermore, the Ethereum network has significantly improved in the past years to scale its throughput and reduce its transaction fees to compete with other L1 chains led by Solana (SOL).

From a technical analysis standpoint, Ether price has mirrored a similar bullish pattern to the 2021 bull rally. Ether’s bullish sentiment is backed by the weekly MACD line that just crossed above the zero line for the first time since February 2025.

Meanwhile, Ethereum-based memecoins led by dog-themed Shiba Inu (SHIB) and frog-themed Pepe (PEPE) have already signaled bullish sentiment. Furthermore, the much-anticipated altseason implies the crypto summer will impact almost the entire top altcoins with strong fundamentals and community.