ETH Surges 4.24% After China Crypto Ban, Pectra Upgrade and Staking Drive Recovery

Ethereum (ETH) is currently trading at $2,603.88 with a 24-hour opening price of $2,497.99 and a 24-hour price change of +4.24%, accompanied by a trading volume of approximately $15.37 billion and a market capitalization near $309.52 billion. The recent price increase follows significant market volatility triggered by China’s comprehensive ban on cryptocurrency activities on May 31, 2025, which led to widespread liquidations across the market, but ETH has since rebounded, supported by strong institutional interest, the successful Pectra upgrade, and a substantial increase in staked ETH, despite recent technical resistance and consolidation patterns.