ETH has recently become a prominent player in the crypto community. This popularity was triggered by a viral tweet by Lex Sokolin. The representative of Generative Ventures highlighted generous developments in the ETH ecosystem.
Social media activity joined the dots with a sharp and abrupt price movement on the ETH scale. Promptly, the ETH price also surged 3.2% in 24 hours. On May 8th, 2025, the price reached a sharp $3,150.25 at 10:00 AM UTC.
According to CoinMarketCap’s data, ETH’s trading volume increased by 18% during the same time. Around $12.5 billion worth of ETH changed hands during the stated period. Even major exchanges like Binance and Coinbase confirm this.
The activity spike suggests a surge in investors’ interest, clinically driven by a stronger focus on the upcoming upgrades to ETHs. At the same time, the bigger crypto market gave a mixed response. In the same timeframe, BTC showed a stable performance. But the stock market took a major hit.
The S&P index gained a meager 0.5% to reach a value of 5,200.45 on 7 May 2025, Yahoo Finance confirms.
However, investors assume a risk-on sentiment might be swelling into the crypto markets. Meanwhile, ETH’s correlation with the traditional markets has been a pivotal analysis event for traders trying to capitalize on the cross-market trends visible on the technical indices, such as the NASDAQ.
The Final Take
In short, ETH’s recent momentum, boosted by on-chain activities and market sentiment, is a key asset that may yield ripe results to traders in the days to come.
