$ETH The Ethereum (ETH) currency has witnessed a strong increase of over 20%, reaching levels exceeding $2200, the highest level since last March.

This rise was driven by several factors, most notably the successful "Pectra" upgrade which improved network efficiency and burning mechanisms, increasing investor confidence.

Positive sentiments in global markets, including a trade agreement between the United States and the United Kingdom, also contributed to the upward momentum.

Additionally, the market experienced a short position liquidation exceeding $188 million, which increased buying pressure on the currency.