ETH Surges 2.47% as Institutional ETF Inflows and Pectra Upgrade Boost Market Confidence

Ethereum is currently trading at $2,607.86 on Binance, with a 24-hour price increase of 2.47% and a trading volume of approximately $20.45 billion, while the circulating supply stands at about 120.72 million ETH and the market capitalization is over $314 billion. The recent price rise is primarily attributed to strong institutional inflows into US spot Ethereum ETFs, renewed bullish momentum following the successful Pectra network upgrade, and increased investor confidence as indicated by significant outflows of ETH from exchanges; additional support comes from positive technical indicators and a strong correlation with broader risk-on sentiment in equity markets.