Ethereum (ETH) surged over 49% in just 6 days, reaching $2,700, a price point not seen since February 23.
The rapid rally reignited talks of Ethereum potentially overtaking Bitcoin in market capitalization, known as the 'flippening' narrative.
The surge in Ethereum's price was unexpected, catching doubters off guard, with sentiment shifting from FUD to FOMO.
Institutional players, like London-based Abraxas Capital, aggressively accumulated ETH while on-chain data showed positive signals for Ethereum's price action.