Why is Ethereum (ETH) price up today? By Cointelegraph

© Reuters.

Ethereum’s native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader cryptocurrency market, as well as stocks.

On Jan. 9, ETH’s price rose 2.85% to cross above $1,325 for the first time in three weeks, a key level that could pave the token’s path toward $1,350 next if its previous price performance is any indication.

daily price chart. Source: TradingView
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Ethereum options open interest by strike price. Source: Glassnode
Ethereum supply rate after its network upgrade to proof-of-stake (PoS). Source: Ultrasound.Money