Ethereum outpaced the broader crypto market over the past 24 hours, posting the strongest performance among the top 10 digital assets.

According to CryptoSlate data, ETH climbed nearly 4% during the reporting period, briefly touching $2,725, its highest level since February.

In contrast, other major crypto tokens like Bitcoin, XRP, Solana, BNB, Dogecoin, Cardano, and Tron recorded flat or slightly negative movements, with gains or losses staying within the 1% range.

Macroeconomic signals from the Federal Reserve shaped market sentiment during the period.

Valentin Fournier, lead research analyst at BRN, told CryptoSlate that the May 28 FOMC minutes struck a more hawkish tone than expected. Policymakers pointed to persistent inflation and rising unemployment as reasons for holding off on immediate interest rate cuts.

However, he added:

“Despite short-term headwinds, long-term catalysts—such as institutional accumulation and upcoming regulation—remain powerful. We maintain a heavy overweight on Bitcoin while trimming altcoin risk slightly.”

Why Ethereum price rallied

Ethereum’s price rally was fueled by renewed institutional interest and the successful rollout of the network’s Pectra upgrade.

Finalized earlier this month, the highly anticipated upgrade improved user experience, scalability, and staking flexibility. It also introduces account abstraction, streamlines data storage, raises validator staking limits, and eases withdrawal mechanics.

These enhancements have helped sustain institutional interest, reflected in inflows into spot Ethereum ETFs.

On May 28, the nine US-listed ETH ETFs posted combined inflows of approximately $85 million, marking their eighth consecutive day of net positive flow.

Over the period, these products have attracted around $395 million in total, according to SoSoValue data.

Adding to the bullish sentiment, SharpLink Gaming announced a $425 million Ethereum-based corporate treasury initiative and appointed Ethereum co-founder Joseph Lubin as chairman of its board.

Lubin described Ethereum as “the protocol moment that our financial system needs,” emphasizing its role in building open financial infrastructure. He argued that Ethereum enables trust at the protocol level, allowing for more secure, efficient, and decentralized innovation.

He stated:

“What the internet did for information, Ethereum does for value. It’s not about replacing banks, but about building open infrastructure where trust is coded into the system at the protocol level. With trust in the protocol, we can reduce reliance on central gatekeepers, make coordination more efficient, fair, and secure, and unleash waves of innovation across new sectors of our economy.”

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Solana has staged an impressive comeback, rallying over 25% from its recent low of $95 earlier this week. The sharp move followed a major shift in macroeconomic sentiment after US President Donald Trump announced a 90-day pause on reciprocal tariffs for all countries except China, which was hit with a 125% tariff. The temporary relief sparked a renewed wave of optimism in financial markets, helping risk-on assets like Solana regain strength after weeks of heavy selling pressure.

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Top analyst Bluntz weighed in on the rally, sharing on X that the recent bounce could be more than just a short-term reaction. He noted that Solana’s latest downtrend lasted nearly three months—a duration he believes could mirror the length of the current recovery phase. If his analysis plays out, SOL may be entering a sustained period of upward momentum.

Despite broader market uncertainty and continued global tensions, Solana’s sharp rebound is offering bulls some relief and potentially setting the stage for a longer-term rally. Traders are now closely watching key resistance levels and overall market sentiment to determine whether this bounce will evolve into a lasting trend shift.

Solana Eyes Recovery After Deep Correction

Solana has finally seen a burst of buying activity after enduring nearly three months of relentless selling pressure. Since reaching its all-time high in January, SOL has lost more than 60% of its value, with bulls losing momentum the moment prices slipped below the $180 level. The correction was deep, sharp, and reflective of broader weakness in crypto and traditional markets as macroeconomic tensions escalated.

President Trump’s continued push for tariffs has added significant stress to global markets, dampening risk appetite and weighing heavily on altcoins like Solana. The environment has been far from friendly for speculative assets, but the recent bounce suggests that sentiment may be shifting.

Bluntz’s insights on X note that Solana’s previous downward leg lasted nearly three months—a timeline he believes the current recovery could mirror. According to his analysis, this bounce could impact prices by as much as 75% in the near term, with a potential target around the $200 level. While it’s too early to confirm a full trend reversal, this optimistic outlook offers some hope to investors holding through the drawdown.

For now, Solana must reclaim key resistance levels and sustain momentum above $120 to validate a broader recovery phase. The next few weeks will be critical as volatility continues to dominate and global tensions remain.

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Bulls Must Hold $110 And Reclaim $130 to Confirm Recovery

Solana is currently trading at $114 after briefly dropping below the critical $100 support level earlier this week. The recent bounce has given bulls a fighting chance, but price action remains fragile. For Solana to confirm a recovery rally, bulls need to reclaim the 4-hour 200-day Moving Average (MA) and Exponential Moving Average (EMA), both of which sit around the $130 level.

Holding above the $110 support zone is key. If SOL manages to maintain strength at current levels and successfully pushes above $130, it could open the door for a massive upside move. A breakout above the 4-hour MAs would likely trigger fresh momentum and renewed buying pressure, potentially sending Solana back into the $150–$180 range.

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However, the bullish outlook hinges entirely on reclaiming these technical levels. Failing to do so could lead to renewed consolidation in the $100–$115 range or even spark another sell-off. If Solana falls back below $110 and retests the $100 mark, it could invite further downside and shake investor confidence again. The coming days will be pivotal as bulls try to shift momentum and stabilize the recent recovery.

Featured image from Dall-E, chart from TradingView 

Following the disclosure by US President Donald Trump on Tuesday that Cardano (ADA) and four other large-cap cryptocurrencies, including Bitcoin, will serve as the foundation of the US Strategic Crypto Reserve, Cardano has been among the talk of the town.

Whales Show Appetite With Large Transactions

There has been a cascading effect throughout the Cardano ecosystem as a result of an inundation of substantial transactions. On March 4, the analytics platform Santiment monitored 1,132 whale transactions, with 2,671 unique transactions exceeding $100,000.

The most significant whale activity in the past three months occurred when ADA momentarily reached $1.13, triggering a major whale entry into the market.

Cardano’s brief, major breakout to $1.13 came in tandem with the most whale activity in over 3 months. The sudden jump in $100K+ transfers sparked a drop in the average age of $ADA sitting in wallets, indicating a rise in tokens now back in regular circulation on the network. pic.twitter.com/bGliMmEesx

— Santiment (@santimentfeed) March 4, 2025

Cardano Price Momentum Gaining Steam

The cryptocurrency is showing signs of steady resilience. Over the past 24 hours, the value of ADA has increased by 21%, fluctuating between a low of $0.75 and a high of $0.94. ADA is currently trading at $0.9972, sustaining a solid 45% increase in the weekly frame.

The futures markets are also a hive of activity, as open interest has surged by more than 6% in the past 24 hours, reaching 905 million ADA, which is equivalent to over $842 million.

Shifting Regulatory Winds For Cryptocurrency

Meanwhile, another motivating factor would be the possibility of regulatory progress. Grayscale has received acknowledgment from the US Securities and Exchange Commission (SEC) to register an exchange-traded fund (ETF) that is compliant with ADA.

This acknowledgment has the potential to increase the chances for mainstream capital investment, as Cardano is now on the shortlist of altcoins awaiting official feedback.

Progress Promotes Community Involvement

Cardano Founder Charles Hoskinson continues to push boundaries with the platform. Recent developments include ambitious plans to track government spending and advance decentralized governance. The Plomin hard fork stands as a testament to the project’s commitment to innovative blockchain solutions.

Cardano’s future remains the subject of cautious optimism among analysts. Although there are numerous speculations circulating on certain social media platforms regarding a potential $10 price point, the majority of observers recommend that individuals maintain realistic expectations. The cryptocurrency market is characterized by frequent fluctuations and remains unpredictable.

Cardano distinguishes itself through its consistent network enhancements and evolving ecosystem. The most recent data indicates that token circulation is increasing and there is a renewed interest among investors. Numerous individuals will monitor the platform’s development to determine whether these encouraging indicators will ultimately generate long-term value.

Featured image from Market Realist, chart from TradingView