On June 6, Ethereum experienced a surge of more than 2%, with its price hitting $3,865 in the past 24 hours. This upward trend in the altcoin market mirrors the overall growth of the crypto market, which also rose by around 1.50% during the same timeframe. The driving forces behind Ethereum’s price hike today are primarily linked to the reduction of Ethereum reserves across various cryptocurrency exchanges and the uptick in institutional investments pouring into Ethereum-focused funds.
