ETH (Ethereum) rose 1.70% in the last 24 hours.

Gate News Bot news, July 7, according to CoinMarketCap data, as of the time of publication, ETH (Ethereum) is currently priced at $2562.37, with a rise of 1.70% in the last 24 hours, reaching a high of $2635.19 and a low of $2378.39. The 24-hour volume has reached $13.35 billion. The current market capitalization is approximately $309.32 billion, an increase of $5.166 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for decentralized applications ( DApps ), supporting a variety of application scenarios such as smart contracts, DeFi, NFTs, and more. ETH is the native token of the Ethereum network, used for paying transaction fees and as a means of value storage.

Important news about ETH recently:

1️⃣ ETH price突破2600美元关口 The price of ETH has significantly risen recently, successfully breaking through the important psychological barrier of $2600. This upward trend has been strongly supported by the volume, with a 24-hour volume reaching $13.35 billion, reflecting the growing enthusiasm in the market for ETH.

2️⃣ Large-scale short positions face liquidation A large trader faced partial liquidation in an ETH 25x leverage short position, with total losses exceeding $16 million. This incident highlights the strong rise momentum in the current ETH market and may further drive price increases in the short term.

3️⃣ Linea mainnet activity increases The Linea mainnet has cumulatively bridged over 810,000 ETH, with the number of transactions exceeding 1.26 million and the number of interactive addresses reaching 580,000. This indicates that the expansion plans of the Ethereum ecosystem are gaining user recognition and adoption, which is beneficial for enhancing the utility and demand of ETH.

From a technical perspective, ETH may face short-term adjustments after breaking through $2600, but the overall trend remains positive. On the fundamental side, Ethereum's ongoing investment in MEV minimization and trusted neutrality could provide additional advantages for its adoption in traditional finance, which is a long-term benefit for the development of ETH.

This message should not be taken as investment advice; investors should be aware of market volatility risks.