$ETH Surges 20% After Pectra Upgrade, Boosting Meme Coin Rally
ETH Posts Biggest Daily Gain in Four Years
$ETH has roared back to life, posting a 20% jump since Thursday—the largest daily gain in four years. ETH briefly reached $2,411 on Friday before settling around $2,300, cementing its position as the second-largest cryptocurrency with a market cap nearing $279 billion.
Pectra Upgrade Ignites Investor Confidence
The rally follows the successful activation of Ethereum’s Pectra upgrade, aimed at improving scalability, efficiency, and user experience. The upgrade renewed market confidence, signaling continued innovation in the Ethereum ecosystem after a period of perceived stagnation.
Industry observers noted the technical complexity of Pectra, suggesting it reassured investors that the Ethereum team remains deeply committed to long-term growth and functionality.
Gaining Ground on Bitcoin
Ethereum’s rise outpaced bitcoin, strengthening its performance relative to the top crypto asset. Many now view ETH as undervalued, given its dominance in total value locked (TVL), traditional finance integrations, stablecoin usage, and overall market presence.
With Ethereum outperforming bitcoin for three straight weeks for the first time in nearly two years, momentum has shifted, triggering a “snowball effect” of renewed interest.
Meme Coin PEPE Rides the Wave
Ethereum’s surge also lifted its ecosystem meme coin, PEPE, which soared over 60% since early Thursday. Its market cap climbed to $5.6 billion, making it the top gainer among meme tokens.
Trading volume exploded from under $1 billion to nearly $4.8 billion within 24 hours. Analysts suggest this reflects strong market conviction, not mere hype.
Institutional vs. Retail Capital Flows
The market is witnessing a divergence in capital flows: institutional investors are leaning into Ethereum as a foundational infrastructure play, while retail traders chase high-volatility meme coins like PEPE—each riding their own wave in a revitalized crypto market.
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