The crypto market started off on a lower note today as the total crypto market cap reached as low as $3.12 trillion. However, it has recovered to the $3.16 trillion level as of the time of writing.
On the day, Ethereum has put up a rather better performance recording over 2% increase. Other cryptocurrencies in the top five coin ranking by market cap have struggled; including Bitcoin which has traded below yesterday’s price levels.
ETH Slow But Steady Upward Trend
According to crypto analyst Michaël van de Poppe, ETH has started to break through crucial support levels. This has sparked great optimism around the coin which was faced by critics of failing to reach higher levels reached by Bitcoin and other altcoins in January 2025.
ETH has proceeded with a gradual price increase where each movement produces stronger momentum leading to increasing positive market sentiment. The expert believes the coin will yield better returns as the market develops.
“Every tick, it goes up, some slight more momentum comes back in.” Poppe said about Ethereum. He further added, “positive sentiment kicks in” as a result of the coin’s “slow, upwards grind.”
There we go, $ETH starts to break through a crucial level.
The uptrend has started since the capitulation two weeks ago.
Slow, upwards grind.
Every tick it goes up, some slight more momentum comes back in. Positive sentiment kicks in.
And then, utility coins outperform. pic.twitter.com/MkmoXnGYVs
— Michaël van de Poppe (@CryptoMichNL) February 17, 2025
Ethereum Season Starts Over Solana Season
In another post by Poppe, he highlighted that Ethereum will pump before Solana. Poppe wrote that “$ETH season starts over $SOL season.” He claimed that Ethereum pumping over Solana can be contributed the recent decline in memecoin market which benefit Solana.
According to Poppe, “the memecoin fiesta has been an inner-circle money printer for a small group of people and everybody knows about it now.” Hence, the recent shift from Solana to Ethereum by investors. The analysts also highlighted that “now it’s back to reality and the real coins to shine,” fueling optimism around ETH further. 
Stablecoin Supply On ETH Rises as That of SOL Dips
Ethereum is also performing better than Solana in terms of Stablecoin supply. As reported by Lookonchain, stablecoins(USDT & USDC) on Ethereum have increased by $1.1B over the last 7 days. On the other hand, stablecoins(USDT & USDC) on Solana have decreased by $772M over the same period.
Earlier last week, Lookonchain also updated that USDT & USDC stablecoins supply on Ethereum had increased by $2.43B. The recent increase marks a $3.53 Billion increase in the last two weeks. This shows that Ethereum is strengthening its position in the DeFi world where stablecoins are widely used for transactions.
Ethereum (ETH) Price Performance
Data on Coinmarketcap as of the time of writing shows that Ethereum is trading at $2,764.84. This price indicates a 2.19% increase on the day which is modest as other coins in the top five coins by market cap have reported a dip on the day.
Trading activity around Ethereum has also surged. Currently, Ethereum’s trading volume sits at $16.11 Billion over the last 24 hours. The trading volume has surged by 63.48% over the same period. On the other hand, the current market capitalization for ETH stands at $333.31 Billion rising by 2.22%.
Expert Opinion About ETH’s Recent Performance
According to Kishan, a Consultant at Wachsman based in London, Ethereum is an exception to other altcoins which are rather tied to how BTC performs. In an exclusive comment shared with Blockchain News, Kishan stated; “altcoins seem tied to the fortunes of Bitcoin, but Ethereum can often be the exception and go its own way.” The comment follows ETH recent price performance.
He further added that “the differing trajectories of Ethereum and Bitcoin highlight the dynamic, unpredictable and volatile nature of the cryptocurrency market, where asset-specific developments and investor behaviors can lead to varied performance outcomes.“
If ETH continues performing well as it has done today, many investors could shift to ETH pushing prices above $3,000. However, it is vitals for traders and investors to monitor how Ethereum performs in the coming days to determine a rally to $3,000 or above.
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