Today, Ethereum has surged significantly, driven by multiple factors:

1. Technical Upgrade: The Shanghai upgrade optimizes performance, reduces costs, and enhances ecological value expectations, attracting investors to enter the market.

2. Capital Rotation: After Bitcoin broke through $100,000 confirming a bull market, sidelined funds, due to Bitcoin's high price, have largely flowed into Ethereum, which offers better value for money.

3. Macroeconomic Favorability: The Federal Reserve's decision to maintain interest rates strengthens expectations for rate cuts, and the new trade agreements between the US and UK alleviate market concerns, leading to an increase in investors' risk appetite and a large inflow of funds into the crypto market.