ETH began rebounding from its prior plateau near $1,700 late last week following the successful Pectra upgrade to increase the Ethereum network's speed and efficiency, and as the Trump administration appeared to retreat at least temporarily from its global trade war. "Markets are largely reacting positively today to good news on the U.S. inflation front with a lower-than-expected CPI print, which may open the path for the Fed to cut rates," Guzman said, noting the Federal Reserve's inflation concerns at its latest meeting. Other altcoins were also in the green, with the token of the smart contracts platforms Solana (SOL) rising more than 5% over the past 24 hours, and popular meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) each up almost 4%.
Author: James Rubin
Published at: 2025-05-13 22:51:12
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