Ethereum Price Above $2,300: 3 Reasons Why ETH Is Leading This Rally

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Ethereum jumped past $2,300 and is now testing $2,400. ETH is outpacing Bitcoin, and the reasons are specific to Ethereum.Ethereum is trading at $2,389 at the time of writing, up 2.73% on the day after opening at $2,326 and reaching $2,396. The intraday high has come within four dollars of $2,400, a level that has capped every rally since April.Ethereum price in USDThe headline number understates what actually happened. ETH has gone from roughly $1,900 to nearly $2,400 in three sessions. That is a move of about 25% on the week, and it delivered Ethereum's largest single-day gain since May 2025.More to the point, $ETH is not simply following Bitcoin higher. It is running ahead of it. For an asset that spent most of 2026 as the market's underperformer, that reversal is the actual story here.Why is the Ethereum price above $2,300?Ethereum is above $2,300 because capital is rotating out of Bitcoin and into ETH for the first time this cycle, and it is hitting a float that has been qu...