Ethereum boosts 8% amid ‘ultra-strong’ social and market activity

Derivatives traders are targeting higher strike prices for Ethereum by the end of April.

Ether (ETH) accelerated 8% in spot crypto markets on Monday amid an uptick in social sentiment and optimism among derivatives traders.

Ether prices have gained around 8% over the past 24 hours, with the asset hitting an intraday high of $3,722 on April 9, outpacing Bitcoin (BTC) and most of its closest peers, according to CoinGecko.

It is the highest price ETH has reached since March 16, just over three weeks ago. The asset is now 9% away from its 2024 high of $4,070 and 24% down from its 2021 all-time high of $4,878.

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