Ethereum's price experienced a significant surge in response to President Donald Trump's announcement on Monday. The US President revealed that he would be pausing military strikes against Iranian energy infrastructure for five days, contingent on progress in talks between the two nations.
The altcoin's value rose from around $2,060 to above $2,170 as a result of this development, boasting a 24-hour trading volume of over $19 billion. Ethereum's move to highs of $2,170 coincided with Bitcoin's sudden uptick to the $70,000 area.
However, despite this bullish momentum, Ethereum remains near the critical $2,000 level. This is largely due to a significant whale offloading ETH worth around $30 million via Coinbase just hours prior to Trump's announcement.