Ethereum's Remarkable Price Surge

In a significant uptick, Ethereum's price soared by almost 7% on Saturday, marking its highest value since the beginning of March. This surge highlights the growing investor confidence in the cryptocurrency market.

BlackRock's Strategic Ethereum Acquisition

The price increase is partly attributed to BlackRock Inc.'s continued investment in Ethereum. The financial giant recently expanded its holdings by acquiring nearly 11,000 ETH, worth approximately $20 million, signaling strong institutional interest in the cryptocurrency.

Market Reactions

At 2:52 pm ET, Ethereum was trading at $2,505, reflecting a 6.81% jump. Shortly after, Bitcoin also saw a modest increase of 0.32%, reaching $103,301, indicating a positive trend across the cryptocurrency market.