ETH(Ethereum)24-hour pump 6.71%

Gate News Bot news, July 3, according to CoinMarketCap data, as of the time of writing, ETH( Ethereum) is currently priced at $2571.05, with a rise of 6.71% in the last 24 hours, reaching a high of $2616.78 and a low of $2378.39. The 24-hour volume has reached $24.471 billion. The current market capitalization is approximately $310.37 billion, an increase of $19.515 billion compared to yesterday.

Ethereum is a decentralized open-source blockchain network that supports smart contract functionality. It is a leading platform for innovative applications and blockchain networks, providing developers with powerful tools to build decentralized applications ( DApps ). The Ethereum ecosystem includes applications in various fields such as decentralized finance ( DeFi ), non-fungible tokens ( NFT ), and decentralized autonomous organizations ( DAO ).

Important recent news about ETH:

1️⃣ ETH price breaks through the $2600 mark The price of ETH has broken through $2600, with a 24-hour rise of over 8%, indicating strong market buying interest. This breakthrough may be related to the increased interest from institutional investors, with the US Ethereum spot ETF recording net inflows for the seventh consecutive week, with a net inflow of 106,000 ETH last week.

2️⃣ Large short positions forced to close As the ETH price rises, multiple large short positions were forced to close. An investor known as the "insider trader" lost over $13 million on short positions in ETH and BTC. Another whale investor also closed their 10x leveraged ETH short position, incurring a loss of $3.27 million. These forced liquidations may further push up the ETH price.

3️⃣ Ethereum co-founder Vitalik emphasizes the importance of decentralization Vitalik Buterin delivered a speech at the EthCC conference, emphasizing the importance of true decentralization. He proposed three core testing criteria to assess the degree of decentralization of projects and warned that if Ethereum fails to achieve true decentralization, it may face a survival crisis. This statement reflects the Ethereum team's commitment to enhancing the level of network decentralization.

From a technical perspective, after ETH breaks the resistance level of 2450 dollars, it may continue to rise in the short term. However, it is important to be cautious of the strong resistance around 2520 dollars, as breaking through this resistance level may open up further rise.

This message does not constitute investment advice, and investors should be aware of market volatility risks.