#CryptoComeback
Ethereum price records best daily performance since 2021
The price of Ethereum has recorded its best daily performance since 2021, after rising by nearly 20% in the last 24 hours, reaching a price of $2234 this Friday morning, up from less than $1900 on Thursday.
With this performance, Ethereum has regained levels it had not seen in two months, increasing its weekly gains to 26%, and achieving a jump of more than 50% over the last month, after previously falling to its lowest levels at around $1400.
This rise coincided with the launch of the “Pectra” update on the main network on May 7, which gave a strong boost to investor confidence.
According to the “CoinGlass” platform, over $280 million in short positions on Ethereum were liquidated in one day, indicating the strength of the upward momentum.
The “Bankless” platform described this day as the best for Ethereum since 2021.
Despite the remarkable performance, it is not an absolute precedent, as Ethereum has witnessed several similar upward waves over the past year, most notably a 23% rise between May 20 and 22, and an increase of about 30% between November 6 and 10.
However, analysts believe that the recent recovery may establish a more sustainable upward trend.
