Ethereum (ETH) is trading at $2,409 on Binance, with a 1.37% rise in 24 hours. This follows a strong rally after the Pectra upgrade on May 7, which improved scalability. Despite gains, $ETH faces concerns over stagnant network activity and weak institutional demand, with the ETH/BTC ratio hitting a low of 0.019.
Analysts expect ETH could rise another 21% by mid-May, possibly reaching $2,800, and end the year between $3,500 and $3,700, assuming continued adoption and network use.