Ether outperformed other cryptocurrencies today, jumping 8.1% over the past 24 hours to $2,380 in early Asian trade on Tuesday morning.
This is the highest the asset has traded at since February 2, shortly after it crashed from $3,000 in a few days.
Santiment reported on Tuesday morning that there are at least 100,000 Ethereum whale wallets. $ETH It has risen 5.5% over the past week.
“As this number increases, we would expect some correlation with price, and there is strong evidence that the No. 2 market cap could continue to rise.”
🐳 Number of Ethereum wallets holding at least 100,000 $ETH It has increased from 54 to 57 in the past week. As this number increases, we would expect some correlation with price, and there is a strong case that the No. 2 market cap could continue to rise. pic.twitter.com/bYYHoY4Y5M
— Santiment (@santimentfeed) April 13, 2026
Hopium trade with Iran lifts market
According to Tom Lee of Fundstrat: $ETH has been the best performing asset since the start of the Iran conflict, rising 17.4%, outperforming the S&P 500 by 1,830 basis points and gold by 2,743 basis points.
$ETH At the time of writing, it has sustained gains and is trading around $2,375, but it is still in a two-and-a-half month range channel and would need to break above $2,400 to see any meaningful upside.
Cryptocurrency investors are reacting to the latest news from the Middle East that President Trump has initiated a military blockade of Iranian ports by the United States and threatened approaching Iranian ships.
But he also said on Monday that Iran wants a deal.
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US Vice President JD Vance said in an interview with Fox News that the US expects Iran to make progress towards opening the Strait of Hormuz, adding that the ball is on Iran’s side.
Progress = Good https://t.co/TSaBrkCY2S
— Thomas (Tom) Lee (not the drummer) FundstratDirect.com (@fundstrat) April 14, 2026
Cryptocurrency market adds $100 billion
The big move added about $100 billion to the market capitalization, hitting a four-week high of $2.6 trillion.
“The risk index has moved to low risk for the first time since mid-March, indicating that the bulls are starting to gain the upper hand over the sellers,” SwissBloc reported.
Ethereum was the best performing high-cap stock, but Bitcoin also found resistance again, rising 4.7% on the day to $74,800. $BTC also remains within the lateral channel and may be rejected here without further propulsion.
In comparison, altcoins moved more slowly, but those with higher daily appreciation rates included Solana, WhiteBIT Coin, Hyperliquid, Chainlink, and Sui.
