The recent performance of Ethereum has been remarkable, with price movements resembling a rocket, rising over 40% in just 72 hours, and once approaching $2600, standing out among numerous cryptocurrencies.

From a technical perspective, the successful implementation of the Pectra upgrade on May 7 is a key turning point. This upgrade introduced 11 key improvements, including a higher staking cap and account abstraction (EIP-7702 standard), greatly enhancing the network's usability and flexibility, while also reducing network fees, injecting a strong dose of confidence into the market. From a market perspective, the short squeeze has become a powerful booster for the price increase. Starting May 8, there was a massive unwinding of short positions in the Ethereum futures market, with a liquidation amount reaching $438 million, and short covering has continuously pushed the coin price higher. In addition, the easing of global trade tensions and a significant increase in market risk appetite have also created a favorable macro environment for the rise in Ethereum's price.