ETH/USD: Ethereum Shoots Above $2,700, Flexing 50% Gain in Just a Week. What’s Happening?

Second-largest crypto was out of the limelight while its big bro was doing numbers and rocketing higher. But not anymore. Ether is rallying. 💸 Ether Regains $2,700 Price TagEthereum prices rocketed upward on Tuesday and regained the $2,700 price tag after weeks of languishing under $2,000 per coin. The surprise comeback is happening when Bitcoin isn’t pulling any interesting moves. In fact, it’s pinned at $103,000 to $104,000 a pop, but it’s sitting on a 40% increase gained over the past five weeks. 🔑 Ether Back Above $320 BillionEther, which is the second-largest token in the nascent market, has added a whopping 50% to its valuation since last week, floating above $320 billion in market cap. So why now? And why isn’t Bitcoin doing anything while Ether is racing ahead? Ether is a leading altcoin, or alternative coin, which is anything that’s not Bitcoin. As such, it tends to absorb a significant amount of inflows when investors look past Bitcoin to find some good deals. 👀 What Are the ETFs Doing?Let’s take a look at the crypto exchange-traded funds, those vehicles that hold genuine Bitcoin and Ethereum. The ones packaged with Bitcoin, , saw net outflows of $91 million on Tuesday but remain well positioned with assets under management well above $100 billion. Ethereum is a much more modest play in the ETF space. It’s got that hold less than $10 billion in assets. On Tuesday, while Bitcoin ETFs shed a few billions, Ethereum picked up $13.5 million in net new money.