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Ethereum shows promising recovery and approaches 4,500 USD as ETH gains traction

ETH price rallies after reaching lows: Currently at 3,906.64 USD, ETH has gained 11.6% in just two days. This recovery signals a growing market confidence, with significant inflows into Ether spot exchange-traded funds (ETFs) contributing to price stability and attractiveness for investors.

Total value locked in Ethereum rises: Ethereum’s total value locked surged to an all-time HIGH of 78 billion USD, a 31% increase month-on-month. This growth is significantly fueled by deposits in protocols such as AAVE and EigenLayer, enhancing Ethereum’s lead over competitors like Solana.

Market sentiment remains optimistic: Recent large transactions, including a notable swap involving USDC for Ether, have further bolstered market sentiment. Analysts are increasingly bullish, projecting price targets for ETH as HIGH as 7,000 USD, largely due to institutional interest and ETF expansion.

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