Ethereum Price Rises Amid Bullish Setup and Institutional Investment

According to recent developments, Ethereum's price has recovered near its highest level since the August rally at $2,500, with a 5% gain in the past 24 hours.

The token's trading volumes remain above average at $13 billion, accounting for over 4% of the asset's circulating market cap.

Bitmine, headed by Tom Lee, has added another 30,000 tokens to their Ethereum stash, representing a $75 million investment.

This move is seen as a bullish signal, with technical indicators and on-chain data favoring an upward trend for ETH.