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The price of ether, the native token to the Ethereum network, rose past $3,000 for the first time since April 2022 on Monday, continuing a recent hot streak.

All 20 assets in the gauge posted declines over the past week, led by Solana, Cardano, and Aptos.

All 20 assets in the gauge posted declines over the past week, led by Solana, Cardano, and Aptos.

The whale has deposited 48,500 ETH, worth over $154 million, to OKX at an average price of $3,176 in the past 35 days.

The recent Federal Reserve interest cut will fuel increased onchain activity, and this will strongly benefit the Ethereum blockchain, the report said.

Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.

BlackRock had previously filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF).

From the U.S. Dollar to Cat-Themed Cryptos, Global Assets Roar Back Following the FOMC’s Bold Move

SOL is often cited as a contender to replace ETH eventually. This week's market action shows how Herculean the task would be.

The way ether options are priced suggests investor preference for bets that prices will fall, contradicting the bullish outlook presented by some analysts.