Ethereum(ETH) Surpasses 2,400 USDT with a 1.44% Increase in 24 Hours Ethereum (ETH) has experienced a significant price surge, surpassing the $2,400 mark. As of now, ETH is trading at approximately $2,405.19, reflecting a 1.26% increase over the past 24 hours.
This upward momentum is largely attributed to the recent implementation of Ethereum's Pectra upgrade on May 7, 2025. The upgrade introduces several enhancements, including raising the staking limit from 32 to 2,048 ETH (via EIP-7251) and improving wallet usability through account abstraction mechanisms (via EIP-7702). These changes have bolstered investor confidence, leading to increased buying pressure in the spot market.
Additionally, Ethereum's network activity has shown signs of recovery. The Total Value Locked (TVL) in Ethereum has surged by 41% to $52.8 billion over the past 30 days, accompanied by a 22% rise in daily transactions to 1.34 million. These metrics indicate a strengthening network, further supporting the positive price movement.
However, it's important to note that despite the recent gains, Ethereum's price is still down nearly 50% from its 2024 peak. Analysts suggest that while the current rally is promising, sustained growth will depend on continued network activity and broader market conditions.
For investors and traders, monitoring key resistance levels around $2,500 and staying informed about macroeconomic indicators will be crucial in assessing Ethereum's short-term trajectory.
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