As of May 16, 2025, Ethereum $ETH
is trading at approximately $2,585.57, reflecting a 2.9% gain over the past 24 hours. This surge is largely attributed to short covering, as noted by CF Benchmarks' Sui Chung . Institutional interest remains robust, with Abraxas Capital accumulating $655 million in ETH since May 7, realizing an unrealized profit of $77 million . Additionally, SRx Health Solutions has diversified its treasury by investing in Ethereum . Analysts suggest that if ETH maintains support above $2,500, it could target the $2,700 mark .