Ethereum Soars Past Bitcoin: New High Amidst Institutional Backing

Ethereum experienced a significant surge in value over the past 24 hours, exceeding Bitcoin’s performance and hitting a two-week high. The rise is attributed to substantial support from large investors, with more than 300,000 ETH held by whale wallets and institutional investment in Ethereum spot ETFs reaching a record high of $38 million. This surge comes as Bitcoin also made significant strides, surpassing $90,000 for the first time since March.