In recent times, the cryptocurrency market has surged dramatically, with Ethereum (ETH) performing particularly well, gaining over 20% in a single day and breaking the $2300 mark. This wave of growth is mainly driven by multiple factors:

1. **Favorable Policies**: The Trump administration has reached a tariff agreement with the UK, easing market risk aversion, while several U.S. states are advancing Bitcoin reserve legislation, boosting institutional confidence.

2. **Interest Rate Cut Expectations**: The Federal Reserve has signaled a loosening of monetary policy, and the market expects a possible rate cut within the year, driving funds into the cryptocurrency market.

3. **Technical Upgrades**: Ethereum has completed the Pectra upgrade, optimizing Layer 2 performance, reducing Gas fees, and boosting market confidence.

4. **Institutional Accumulation**: Asset management giants like BlackRock continue to increase their holdings in Bitcoin ETFs, enhancing overall market liquidity.

Despite the short-term risks of overheating and potential corrections, the continuous inflow of institutional funds and regulatory improvements may support ETH's medium to long-term trend.