Ethereum climbed past the $3,200 mark as optimism strengthened around potential ETF-related developments and rising activity in the DeFi ecosystem. Traders noted improved sentiment after recent weakness, with on-chain metrics reflecting increased capital flows into staking and lending protocols. Market participants highlighted that expectations surrounding regulatory clarity contributed to the rebound. Despite broader volatility across digital assets, ETH outperformed major altcoins during the session. Analysts now focus on liquidity conditions and institutional participation trends that may determine the sustainability of the token’s upward movement.