$ETH

This rally is attributed to several factors:

• Pectra Upgrade: The recent Pectra upgrade has enhanced Ethereum’s scalability and performance, contributing to increased investor confidence . 

• Institutional Activity: Notably, Abraxas Capital withdrew $116 million worth of ETH from exchanges, signaling strong institutional interest and potentially reducing available supply . 

• Market Momentum: The broader cryptocurrency market is experiencing bullish momentum, with Bitcoin surpassing $104,000, which often positively influences altcoins like Ethereum . 

Analysts predict that Ethereum could reach between $6,000 and $7,000 by the end of 2025, driven by ongoing upgrades and increased adoption in decentralized finance (DeFi) applications . 

However, it’s important to note that the market remains volatile, and prices can fluctuate rapidly.