Ethereum (ETH) Experienced Its Biggest Rise Since May 2021 After Pectra Update! Will the Rally Continue? Here Are the Details
Ethereum (ETH) surged over 20% to above $2,200 on Thursday, marking its largest daily gain since May 2021 after the Pectra update was activated. This update, significant since the 2022 Merge, enhances staking efficiency, validator management, and Layer 2 scalability amid a renewed risk-taking atmosphere in crypto markets. Analyst Min Jung noted Ethereum's improved performance against Bitcoin, with ETH/BTC dropping nearly 40% this year. Positive macroeconomic developments, including U.S.-China trade talks, have further boosted market confidence. Analysts are closely monitoring whether this resurgence indicates a broader altcoin revival following a period of underperformance.