$ETH Ethereum ($ETH) is currently trading at $2,587.79, marking a 0.034% increase over the past 24 hours. The cryptocurrency reached an intraday high of $2,631.38 before settling at its current level.

This upward movement follows a significant 43.6% surge between May 7 and May 14, 2025, driven by factors such as the successful Pectra upgrade, increased institutional interest, and a broader market recovery.

Analysts suggest that Ethereum's recent rally is fueled by short covering rather than new bullish bets, indicating a shift in market dynamics.

As Ethereum continues to solidify its position as a leading blockchain platform, investors are closely monitoring its performance amid evolving market conditions.$ETH