As of May 11, 2025, the price of Ethereum (ETH) has surpassed $2500, currently reported at $2503.6, with a 24-hour increase of 5.43%, setting a new historical high. This rise is driven by multiple factors:

1. Successful Pectra upgrade: Enhances Layer 2 efficiency, reduces Gas fees, and boosts market confidence.

2. DeFi recovery: The total locked value (TVL) of Ethereum DeFi has reached $80 billion, a two-year high.

3. Institutional accumulation: Whale addresses have been continuously buying over the past two weeks, intensifying the upward trend in the futures market as short positions are closed.

Short-term outlook: If it stabilizes above $2500, the next targets are $2600-$2800; if there is a pullback, $2400-$2450 will be key support. Caution is needed regarding profit-taking and regulatory risks.