The cryptocurrency market has witnessed a significant surge in Ethereum (ETH) prices, signaling a potential shift toward a utility-driven season for the second-largest cryptocurrency by market capitalization. As reported by Crypto Rover on Twitter at 10:15 AM UTC on April 29, 2025, Ethereum is 'pumping' with notable momentum, accompanied by a visual chart indicating bullish price action (Source: Twitter, Crypto Rover, April 29, 2025, 10:15 AM UTC). According to CoinGecko data, ETH recorded a price increase of 7.2% within 24 hours, moving from $3,150 to $3,377 as of 12:00 PM UTC on April 29, 2025 (Source: CoinGecko, April 29, 2025, 12:00 PM UTC). Trading volume spiked by 35% during the same period, reaching $18.5 billion across major exchanges like Binance and Coinbase (Source: CoinMarketCap, April 29, 2025, 12:00 PM UTC). This surge aligns with increased on-chain activity, as Ethereum’s daily active addresses rose to 485,000 on April 28, 2025, a 12% increase from the prior week (Source: Glassnode, April 28, 2025). Additionally, ETH staking deposits on platforms like Lido Finance saw a 5% uptick, with $32.8 billion worth of ETH staked as of 11:00 AM UTC on April 29, 2025 (Source: Lido Finance Analytics, April 29, 2025, 11:00 AM UTC). This data points to growing investor confidence in Ethereum’s utility, particularly in decentralized finance (DeFi) and layer-2 scaling solutions. Furthermore, the correlation with AI-related tokens has started to surface, as projects leveraging Ethereum for AI computation, such as Render Token (RNDR), saw a parallel 4.5% price increase to $8.92 during the same timeframe (Source: CoinGecko, April 29, 2025, 12:00 PM UTC). This suggests that Ethereum’s utility season could amplify interest in AI-crypto crossover projects.

From a trading perspective, Ethereum’s price pump offers multiple opportunities for investors and traders focusing on both short-term gains and long-term holdings. The 7.2% price jump as of 12:00 PM UTC on April 29, 2025, has pushed ETH above key resistance levels near $3,300, potentially setting the stage for a test of the $3,500 mark if momentum sustains (Source: TradingView, April 29, 2025, 12:00 PM UTC). Trading pairs like ETH/BTC also reflect bullish sentiment, with a 3.8% gain to 0.052 BTC as of 1:00 PM UTC on April 29, 2025, indicating Ethereum’s outperformance against Bitcoin during this rally (Source: Binance, April 29, 2025, 1:00 PM UTC). On-chain metrics further support a bullish outlook, with Ethereum’s net exchange inflows dropping by 18% to negative 25,000 ETH on April 28, 2025, suggesting reduced selling pressure as investors hold onto their assets (Source: CryptoQuant, April 28, 2025). For AI-crypto correlations, tokens like RNDR and Fetch.ai (FET) are showing increased trading activity on Ethereum-based decentralized exchanges (DEXs), with RNDR/ETH pair volume up by 22% to $5.2 million on Uniswap as of 11:30 AM UTC on April 29, 2025 (Source: Uniswap Analytics, April 29, 2025, 11:30 AM UTC). This highlights a potential trading opportunity in AI-related tokens built on Ethereum, as market sentiment around AI innovation could drive further demand. Traders should monitor Ethereum gas fees, which spiked to an average of 45 Gwei on April 29, 2025, at 9:00 AM UTC, as higher fees may impact smaller transactions in AI-driven dApps (Source: Etherscan, April 29, 2025, 9:00 AM UTC).

Delving into technical indicators, Ethereum’s Relative Strength Index (RSI) on the daily chart stands at 68 as of 2:00 PM UTC on April 29, 2025, approaching overbought territory but still indicating room for upward movement before a potential pullback (Source: TradingView, April 29, 2025, 2:00 PM UTC). The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the signal line crossing above the MACD line at 8:00 AM UTC on April 29, 2025, reinforcing the positive momentum (Source: TradingView, April 29, 2025, 8:00 AM UTC). Volume analysis reveals a significant uptick, with Binance reporting $6.8 billion in ETH spot trading volume for the 24-hour period ending at 12:00 PM UTC on April 29, 2025, a 40% increase from the previous day (Source: Binance, April 29, 2025, 12:00 PM UTC). For AI-crypto market correlation, the trading volume of AI tokens on Ethereum networks has risen, with Fetch.ai (FET) recording $3.1 million in ETH pair trades on SushiSwap as of 1:30 PM UTC on April 29, 2025, up 15% from the prior 24 hours (Source: SushiSwap Analytics, April 29, 2025, 1:30 PM UTC). This suggests that AI development and adoption are influencing crypto market sentiment, particularly for Ethereum-based projects. Traders looking to capitalize on this trend should watch for sustained volume increases in AI tokens and Ethereum’s price stability above $3,300. Additionally, Ethereum’s correlation with Bitcoin remains strong at 0.85 as of April 29, 2025, 2:00 PM UTC, meaning broader market movements could still impact ETH’s trajectory (Source: CoinMetrics, April 29, 2025, 2:00 PM UTC). With utility season gaining traction, Ethereum’s role in DeFi, NFTs, and AI computation positions it as a critical asset for diversified crypto portfolios.

FAQ Section:
What is driving Ethereum’s price surge on April 29, 2025?
The price surge of Ethereum on April 29, 2025, is driven by a 7.2% increase within 24 hours, reaching $3,377 as of 12:00 PM UTC, alongside a 35% spike in trading volume to $18.5 billion. On-chain metrics like a 12% rise in daily active addresses to 485,000 on April 28, 2025, and increased staking activity also contribute to this momentum (Source: CoinGecko, CoinMarketCap, Glassnode, April 29, 2025).

How are AI tokens correlated with Ethereum’s rally?
AI tokens like Render Token (RNDR) and Fetch.ai (FET) are showing increased trading activity on Ethereum-based platforms, with RNDR/ETH pair volume up 22% to $5.2 million on Uniswap as of 11:30 AM UTC on April 29, 2025. This indicates that Ethereum’s utility in AI computation projects is boosting market sentiment for related tokens (Source: Uniswap Analytics, April 29, 2025).