Ethereum Breaks Above $2,616 as Strong Demand Drives Price Higher
Ethereum (ETH) has seen significant gains in recent days, extending Friday's rally to reach its highest price since January. The digital currency traded at $2,646 on Bitstamp at 17:56 UTC, up 1.3% on the day and about 8% above Thursday's close.
The move takes ETH above $2,616, a level that had capped every rally attempt since late August. Three key factors point to ETH-specific demand:
US spot Ether ETFs took in $143.7 million on Friday, led by $114.3 million into BlackRock's ETHA, according to Farside Investors data. The average Ethereum transaction fee fell to $0.095, down from a 2026 peak of $0.72 on April 21, according to on-chain analytics firm Santiment.
The macro backdrop also contributed to the rally, with no lasting selloff following the Federal Reserve's rate hike and the Senate's failure to advance the CLARITY Act.