Ethereum News: Why ETH Crypto Is Rallying Today

Ethereum (CCC:ETH-USD) is in the news Tuesday as the cryptocurrency rises higher and we’ve got all the details.

A concept image of a virtual coin based on the Ethereum logo representing today's news.

Source: Filippo Ronca Cavalcanti / Shutterstock.com

So what has ETG heading higher today? It doesn’t look like there’s one specific bit of news behind Ethereum running higher. Instead, several small bits of news seem to be behind the push for the crypto.

First off, it’s worth pointing out that ETH has been pulling back lately after reaching a new all-time high this month. With that retreat comes more investors picking up ETH tokens as they hope for new highs again. That extra activity could be one of the reasons that Ethereum is gaining today.

Another highlight is the launch of Ethereum and Bitcoin (CCC:BTC-USD) ETFs in Canada. These ETFs allow traders to invest in the crypto without having to hold it directly. They also offer payouts to traders on a monthly basis.

One more bit of Ethereum news that might have crypto traders smiling today is its performance compared to Bitcoin. Bloomberg points out that ETH has risen 530% since December. That’s some massive growth and it outpaces BTC, which has nearly doubled in price over that same period of time.

Of course, that doesn’t mean ETH is anywhere close to reaching BTC in terms of value. The crypto is trading at around $4,600 as of this writing, which is a far cry from BTC’s roughly $57,000 value. Even so, the strong growth Ethereum is seeing isn’t news crypto traders will want to ignore.

ETH is up 6.5% over a 24-hour period as of Tuesday morning.

There’s more crypto news for investors to go over below!

We’ve got all the most recent crypto news that traders need to know about for Tuesday. Among that is insight into recent Dogecoin (CCC:DOGE-USD) movement, Sandbox (CCC:SAND-USD) price predictions, as well as Shiba Inu (CCC:SHIB-USD) reboinding. You can get all those details from the following links!

More Crypto News for Tuesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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