Ethereum (ETH)
$2,303, a major player in the altcoin market, experienced a surge of up to 20%, taking the lead in the cryptocurrency market today. This rise led to crossing the $2,000 threshold, while Bitcoin 
$103,736‘s climb beyond $100,000 contributed to a generally positive market atmosphere. Ethereum’s Pectra update further solidified investor confidence, with increased transaction volume and total value locked (TVL) among the key indicators supporting the price rise.
Pectra Update Brings Significant Changes to Ethereum Network
The Pectra update is considered Ethereum’s most substantial move since The Merge in 2022. It increased the ETH staking limit, introduced smart contract features that simplify wallet use, and implemented nine different Ethereum Improvement Proposals (EIPs). These changes enhanced the network’s appeal to both individual investors and institutional players.
In parallel with these innovations, activity in the DeFi ecosystem is also notable. According to DefiLlama data, the network’s TVL reached $57.9 billion, with daily transactions increasing by 22% over the past month. Meanwhile, transaction fees have dropped by 95%, making network use more cost-effective. Maintaining low transaction fees in the short term could accelerate Ethereum’s widespread acceptance.
Experts Share Ethereum Price Predictions
Renowned analyst Ali Martinez highlighted that Ethereum faces robust resistance at the $2,380 level. Overcoming this historically challenging barrier could initiate a new rally. According to Martinez, as market liquidity grows and the global economic cycle turns in favor of investors, the potential for altcoins to climb into higher price regions strengthens.
Analyst Michaël van de Poppe noted that Ethereum’s rapid surpassing of $2,100 is a significant signal. The $300 increase in just one day reflects the general optimism within the cryptocurrency market. Increasing institutional interest and central banks’ easing measures might ease Ethereum’s path towards the $3,000 range.
Another factor supporting Ethereum’s upward movement is Bitcoin’s strong performance. The largest cryptocurrency surpassing the $100,000 threshold stimulates market risk appetite, positively impacting altcoins. With the Pectra update and macroeconomic developments converging, increased volatility and opportunities on the Ethereum side are no surprise.