Ethereum's native token, Ether, is up 7.51%, reaching an intraday high of $3,421 on January 24. This increase reflects a broader market recovery, with Bitcoin rising over 2.6% to trade above $105,000, and other altcoins like XRP and Solana also seeing gains. The positive sentiment stems from US President Trump's move to support the digital asset industry, including executive orders aimed at proposing new regulations and exploring a national crypto asset stockpile. This governmental backing has boosted market confidence in cryptocurrencies like Ethereum. Additionally, significant inflows into US-based Ethereum ETFs have been recorded, totaling $396.5 million over six days, primarily driven by BlackRock’s ETHA fund. Analysts now predict Ethereum prices could rise further, potentially reaching $3,850 or $4,840, provided that it stays above crucial support levels around $3,200 to $3,390. Overall, optimism about regulatory developments and increasing institutional interest are key factors driving Ether's price rise.

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