Ethereum rallies to $3,400 as ETH staking hits new milestone

  • Ethereum price pumped to $3,400 on Wednesday, Jan. 14, 2026.
  • Gains came as Bitcoin shot to highs above $97,000 and top altcoins ticked up.
  • ETH staking has shown a strong resurgence, hitting an all-time high.

The Ethereum (ETH) token traded to its intraday high just above $3,400 amid a broader crypto market rally.

Driven by renewed investor optimism, lower inflation signals, and institutional inflows, the Bitcoin price broke to highs of $97,300.

And with risk sentiment likely to propel bulls to the much-desired mark of $100,000, Ethereum mirrored the gains to new intraday highs.

Notably, this comes as record staking participation, and positive technical indicators point to a potential retest of $4,000.

Ethereum sees fresh momentum to $3,400

Like BTC, ETH suffered downward pressure in the early days of 2026.

However, amid a fresh bullish curve for spot crypto exchange-traded funds, momentum has now propelled Ethereum to highs of $3,403 as bulls decisively broke above the $3,300 threshold.

The cryptocurrency was up 6% in the past 24 hours at the time of writing, having opened the day under $3,280.

Gains sees ETH trade within a tight range of $3,280 and $3,520.

Bulls are seeing a breakout after a period of consolidation above $3,000, a time during which Ethereum saw a spike in ETH staking.

Data shows Ethereum staking has hit a record high with over 36 million ETH locked, a figure that accounts for nearly 30% of the circulating supply.

The value of these coins sits at more than $118 billion at current prices.

Additionally, daily new wallet creation has reached all-time highs, and ETFs are notching new net inflows.

What next for ETH?

ETH has reclaimed a key level and shows a bullish outlook with a potential ascending triangle pattern breakout.

Further technical indicators, including the Relative Strength Index (RSI) shows bullish control at 67. RSI on the daily chart is upturned and since it’s not in overbought territory yet, buyers have the upper hand.

The Moving Average Convergence Divergence indicator is also signalling bullish bias, with the crossover seeing the histogram flip green.

Ethereum Price Chart
Ethereum price chart by TradingView

ETH has also witnessed significant short liquidations, amplifying upward pressure as bears cover positions.

CoinGlass data shows over $800 in crypto liquidations recorded in the past 24 hours, with over $250 million of this in ETH. Bearish bets account for $218 million and just over $32 million in long positions.

Whether Ethereum can sustain its momentum and target higher levels remains to be seen.

A confirmed hold and close above $3,300 could pave the way for a push toward $3,600-$3,800 in the short term.

This outlook will be helped by an upbeat sentiment across the broader market. Bullish projections for Bitcoin above $100,000 also give ETH bulls hope of a potential retest of prices above $4,000.

However, failure to defend $3,300 could lead to a pullback toward $3,100. Support zones below $3k are in the $2,8500-$2,700 region.

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Bitcoin price reclaims $97K, bulls eye $100K milestone

  • Bitcoin climbed above $97k on a risk-on outlook
  • Gains have also come as Bitcoin ETFs notch huge inflows.
  • Risks include geopolitical escalations.

Bitcoin is surging once again after a slow start in 2026, with the latest spike sending BTC to highs of $97,360 amid renewed risk-on sentiment across global markets.

The cryptocurrency’s sharp surge in the past 24 hours has bulls excited for a potential breakout to the key psychological level of $100,000.

Bitcoin Price Chart
Bitcoin price chart by TradingView

As the broader crypto market eyes more upside momentum, analysts see fresh rotation into digital assets, with fiat currency debasement and supportive institutional flows key to this.

But investors are also aware of the macroeconomic conditions, with US inflation data showing the Producer Price Index (PPI) rose 3% in November – highest since July.

This could provide a mixed backdrop for price movements, but analysts say that Bitcoin breaking above $100k will be a critical move.

Bitcoin jumps to $97k

Stocks rose after the US consumer price index came out on Tuesday, and Bitcoin rode the risk-on sentiment to jump from $93,000 to highs of $97,360.

While Wall Street slipped afterwards amid losses for bank and tech stocks, BTC edged higher.

The more than 4% spike for BTC signalled a robust risk-on outlook that also lifted altcoins, including Ethereum, XRP and Solana.

A look at the charts shows Bitcoin is hovering at likely resistance around the $97,000-$97,500 zone.

However, the gains mark a significant recovery from earlier January levels in the low $90k region.

This advance has BTC above the $95,000 resistance level, a barrier that had capped upside momentum since November 2025,  analysts at QCP Group noted via X.

QCP sees the potential for the bellwether to witness continued strength, noting that Bitcoin could attract investor rotation from traditional safe havens.

Recent US CPI data, which held steady and aligned with moderated inflation expectations, reinforced a supportive environment for risk assets.

Bulls eye $100k level amid ETFs flows

Despite the notable headwinds, the overall market structure suggests potential for continuation higher, with technical indicators showing bullish momentum and volume supporting the rally.

The recent gains have been bolstered by substantial inflows into US spot Bitcoin ETFs.

As senior Bloomberg ETF analyst Eric Balchunas noted, the funds recorded over $760 million in flows on a single day.

A resurgence in demand follows major redemptions in late 2025 and earlier in the year.

Current momentum paints a different picture, signalling growing institutional conviction as BTC approaches the $100k level.

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Arthur Hayes eyes Ethena price surge to $1 as major Korean exchanges list USDe

  • ENA price has surged 6% as bulls eye a breakout above $0.24.
  • Upbit and Bithumb have listed Ethena USD (USDe).
  • Arthur Hayes has shared a fresh prediction for the ENA price, noting a potential surge to $1.

Ethena (ENA) surged on Wednesday as cryptocurrencies bounced, and amid major South Korean cryptocurrency exchanges’ listing of the synthetic stablecoin Ethena USD (USDe).

The fresh dose of optimism around Ethena’s governance token ENA saw prominent investor Arthur Hayes express a strong bullish conviction as he predicted a potential spike to $1.

Ethena price gains as Upbit and Bithumb list USDe

South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb, have both added support for Ethena’s USDe.

The platforms announced the listings on Wednesday, which means USDe is now supported on two of Asia’s most active trading markets.

Upbit now supports USDe pairs against KRW, BTC, and USDT, while Bithumb confirmed the listing of the USDe/KRW market.

These listings mean enhanced liquidity, accessibility, and adoption of USDe in a market where fiat-to-crypto trading volumes are often substantial.

Upbit’s listing of tokens has historically coincided with a price surge for the respective cryptocurrencies.

ENA, the governance token of the Ethena protocol, could ride this bullish outlook to new highs.

As of writing, ENA traded around $0.24, up 7% in the past 24 hours. Trading volume jumped 160% to over $389 million while USDe saw a 48% increase in volume as  the listings went live.

ENA’s price reached intraday highs of $0.25 amid this volume surge.

ENA Price Chart
Ethena price chart by CoinMarketCap

Arthur Hayes sees ENA price rallying to $1

Hayes, co-founder of BitMEX and an influential crypto investor, is optimistic that the ENA price will go parabolic in the short term.

The entrepreneur, who has previously backed Ethena to explode, shared his latest prediction in a post on X, noting “it’s time for $ENA = $1.”

This aligns with Hayes’ other bold market calls, having accumulated ENA during dips.

His latest commentary suggests that increased exchange support, particularly in high-volume markets like South Korea, could catalyze greater adoption. Upward price pressure on ENA may allow bulls to target the psychological $1 level.

ENA last traded around this level in January 2025, with the overall market downturn seeing prices touch lows of $0.22 in June.

A rebound allowed bulls to retest highs of $0.80, but the area marked a double top pattern and prices slumped to under $0.20 in early Jan. 2026.

Ethena’s ongoing efforts to integrate USDe across major platforms, potentially driving further protocol growth and revenue, could cascade upside momentum to ENA.

If the current levels mark a double bottom, a retest of $0.80 and then $1 is likely.

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