Ethereum crossed the $2,700 mark this weekend for the first time in over seven months. ETH price rose from around $1,510 to $2,650 over three months, representing a gain of more than 75%, with a quarterly increase of 63.6%. This rally is explained in part by a collapse in ETH reserves on exchanges, with average monthly withdrawals on Binance exceeding 90,000 transactions, a three-year high. Several major altcoins are already outperforming, with NEAR posting +117% over one month and Uniswap gaining 35.8% in a week. However, analysts urge caution, as Bitcoin retains institutional favor with $55.2 billion in net flows for its ETFs compared to $13.1 billion for Ethereum ETFs.
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