Ethereum’s native token climbed nearly 30% over the past week, outperforming bitcoin as renewed exchange-traded fund (ETF) demand, short covering, and tighter spot supply propelled prices higher. ETH touched a weekly peak of $2,546 on Saturday before easing to about $2,435 by 5 p.m. EDT.
ETH Outpaces Bitcoin With 29.8% Weekly Surge
Ether rose 29.8% over seven days, topping bitcoin’s 22.9% gain and extending its recent outperformance. The rally culminated in a Saturday afternoon high of $2,546, marking one of ETH’s strongest weekly advances in recent months, before a modest pullback into the evening.
What’s Driving the Move
- ETF inflows: Renewed buying interest in Ether-focused exchange-traded funds has supported spot demand, providing a regulated channel for traditional investors to gain exposure.
- Short squeeze: Rapid upside forced some short sellers to cover positions, adding momentum as prices pushed through near-term resistance.
- Tighter exchange supply: A smaller pool of readily tradable ETH on exchanges can amplify price moves when demand accelerates, contributing to volatility on the upside.
Context and Market Implications
Ether (ETH) is the second-largest cryptocurrency by market value and the native asset of the Ethereum network, used to pay transaction fees and secure the chain. Price advances driven by structural demand—such as ETF buying—combined with reduced exchange balances can intensify short-term moves. While the recent rally highlights improving sentiment, crypto markets remain volatile and sensitive to flows, liquidity, and broader risk conditions.