According to @cas_abbe, Ethereum (ETH) is demonstrating strong bullish momentum, with a potential run towards the $3,000 price level looking increasingly likely. OKX Chief Commercial Officer Lennix Lai noted that ETH is overshadowing Bitcoin (BTC) in derivatives, accounting for 45.2% of their perpetual futures trading volume, and concluded that a $3,000 ETH price is likely. This institutional interest is not limited to ETH; a Glassnode report shows that despite recent volatility, long-term BTC holders are accumulating during dips, a dynamic described as 'highly atypical for late-stage bull markets.' The rally was further supported by favorable macroeconomic news, including a soft U.S. CPI report and a potential U.S.-China trade agreement, which propelled ETH to an intraday high of $2,873.46. Supporting this liquidity, a CryptoQuant report highlights that the stablecoin market has reached a record high of $228 billion. Data from Presto Research indicates a capital rotation towards chains like Tron (TRX), which saw over $6 billion in net stablecoin inflows, while Ethereum and Solana (SOL) experienced outflows. From a technical perspective, ETH has established support at the $2,750–$2,760 band with key resistance at the psychological $3,000 mark.