Ethereum (ETH) is redefining the rhythm of the bull market. On May 9, ETH strongly broke through $2300, with a nearly 20% increase in 48 hours. This is not just a price rebound, but a medium-to-long-term explosive signal driven by three core bullish factors: major upgrade implementation, whale funding entering the market, and comprehensive recovery of on-chain data.
The bull market for ETH may just be starting.
【Pectra Upgrade: The fuse that ignites the next bull market】
On May 7, Ethereum completed a major upgrade 'Pectra', hailed as the most influential technical update since the 'Merge' in 2022.
Highlights include:
Account abstraction (AA): Simplifying user experience, promoting mainstream adoption.
Layer2 scalability enhancement: Paving the way for modular and ZK Rollup ecosystems.
Validator mechanism optimization: Improving staking efficiency, enhancing network stability.
This is not just a functional optimization, but lays the underlying foundation for the next phase of Web3 explosion.
【Macroeconomic environment is favorable, ETH becomes the focus of funds】
The US-UK trade agreement is implemented, the Federal Reserve turns to a dovish stance, and the crypto market is once again favored by risk-tolerant funds. Bitcoin breaks through the psychological barrier of $100,000, and ETH, as the leading on-chain infrastructure, naturally surges.
The resonance of technical, financial, and narrative aspects is bringing ETH back to the core position of the bull market.
【On-chain data fully recovers: Smart contract economy restarts】
According to Cointelegraph data:
The total locked value (TVL) of ETH has surged by 41% in the last 30 days, reaching $52.8 billion.
Daily trading volume has increased by over 22%, and user activity has significantly risen.
Whale addresses (holding over 10,000 ETH) continue to accumulate, steadily positioning themselves.
This is not short-term speculation, but a true reflection of the comprehensive recovery of the ETH ecosystem.
【2026 Outlook: $6000 is not a dream, but a logic】
In the next two years, Ethereum has a clear upward logic:
Technical aspect: Breaking out of the consolidation zone, starting a new trend.
Financial aspect: Institutions are accelerating their layout, expectations for spot ETFs are rising.
Narrative aspect: Account abstraction, ZK Rollup, modular L2, and other technologies are driving ecosystem expansion.
Under the current fundamentals and market trends, ETH challenging $6000 in 2026 has a completely reasonable expectation basis.
【Summary: $2300 is just the starting point of the bull market】
Today's Ethereum is not just a smart contract platform; it is the core of the new generation of decentralized network economy. Technological innovation, capital return, and narrative updates are fully resonating.
ETH at $2300 is just the beginning; $6000 will be the next station we strive for together.
