Ethereum Price Surges 2% on Softer US Inflation Data and Revived User Activity

Ethereum's price surged by 2% to $1,890.89 on Wednesday, outperforming a flat Bitcoin.

The upward trend was largely driven by softer-than-expected US inflation data, which reduced fears of aggressive Federal Reserve rate hikes and boosted demand for risk assets like ETH.

A whale withdrew 50,000 ETH (~$93.6M) from Binance to stake, reducing exchange supply, while the network saw its highest daily active address count (989,500) since March, signaling revived user activity.

The price is now testing key resistance at $1,925, with a neutral 7-day RSI of 45.99, allowing room for a breakout.