Ethereum (CRYPTO:ETH) saw a notable 5.5% increase, reaching nearly $3,100 for the first time in ten days on May 17, attributed to decreased demand for fixed-income assets following disappointing U.S. retail sales data for April.

Anticipation for a potential interest rate cut by the U.S. Federal Reserve, seen as favorable for risk-on assets like cryptocurrencies, further fueled the rally.

Additionally, Ethereum's price bump was bolstered by a positive U.S. court ruling and an indictment unveiling wire fraud and money laundering related to the manipulation of the Ethereum blockchain, highlighting its decentralised nature and reinforcing its value.

This intertwining of regulatory and economic factors played a significant role in Ethereum's recent price surge, demonstrating digital assets' sensitivity to broader economic signals and regulatory environments.