Ethereum surpasses $2,600 threshold in rally fueled by U.S. payroll numbers
2025/07/02 16:00Ethereum rockets above $2,600 in a recent bullish run as it awakens from a previous slump. The token has seen an increase of trading volume following drop in U.S. payroll numbers.
Recent data from crypto.news shows that ETH ( ETH ) is on a bullish run, rising as much as 6% from its previous price point. At around 9:45（UTC+8）, the second largest cryptocurrency by market cap reached a peak of $2,608.70 as other cryptocurrencies like XRP and SOL follow its lead.
At press time, ETH has gone up by 5.54% in the past 24 hours. The token is currently trading hands at $2,590, suffering a slight correction from its earlier peak. Despite the dip, it maintains its position near the $2,600 level.
Additionally, ETH’s trading volume has experienced an 83.7% increase compared to the previous trading day. Its daily trading volume now sits at $25.4 billion, which indicates a rise in market activity.
Ethereum’s market cap now stands at $313 billion, having experienced a 5.56% boost.
Price chart for Ethereum in the past 24 hours of trading, July 3, 2025 | Source: crypto.news
Why is Ethereum surging?
The rally is fueled by a mix of macroeconomic signals, institutional activity, and strengthening on-chain metrics, which point to a renewed investor appetite for the crypto asset.
In fact, one of the main drivers behind the ETH rally is a wave of optimism in traditional markets. U.S. payroll numbers released earlier today came in weaker than expected, reinforcing hopes that the Federal Reserve could cut interest rates sooner rather than later.
With lower rates potentially reducing the cost of capital and boosting demand for riskier assets, cryptocurrencies like Ethereum are experiencing renewed inflows. Data from SoSoValue shows that even though Ethereum ETFs have seen outflows of $1.82 million, its cumulative total net inflow is still standing tall at $4.25 billion.
Another possible reason behind the boost is the recently held Ethereum Community Conference, where co-founder Vitalik Buterin talked about the future of crypto, as well as called out fake decentralization claims in the industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Stablecoin Legislation Booms Globally, Why Is China Taking the Opposite Approach? An Article to Understand the Real National Strategic Choices
Amid the global surge in stablecoin legislation, China has chosen to firmly curb stablecoins and other virtual currencies, while accelerating the development of the digital yuan to safeguard national security and monetary sovereignty. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
Liquidity migration begins! Japan becomes the Fed's "reservoir," 120 billions in carry trade returns set to ignite the December crypto market
The Federal Reserve has stopped quantitative tightening and may cut interest rates, while the Bank of Japan plans to raise rates, changing the global liquidity landscape and impacting carry trades and asset pricing. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.
Weekly Hot Picks: Bank of Japan Sends Strongest Rate Hike Signal! Is the Copper Market Entering a Supercycle Rehearsal?
The leading candidate for Federal Reserve Chair is being questioned for potentially "accommodative rate cuts." Copper prices have reached a historic high, and a five-hour meeting between the United States and Russia ended without results. Expectations for a Japanese interest rate hike in December have surged, and Moore Threads' stock soared more than fivefold on its first day... What market moves did you miss this week?
Monad Practical Guide: Welcome to a New Architecture and High-Performance Development Ecosystem
This article will introduce some resources to help you better understand Monad and start developing.
Trending news
MoreCrypto prices
More
