In the last 24 hours and at the time of writing, ETH has shown a 24.97% increase and is among the day’s top gaining assets.
Ethereum (ETH) may have risen following the Pectra update. This rise is the largest daily gain seen since 2021. The update helped reverse ETH's weak performance against BTC, showing that investors' risk appetite has increased. The Pectra update includes significant changes to the Ethereum network, but according to CryptoQuant, network activities remain weak, and the price increase is not fully supported by fundamental indicators.
These developments may have contributed to ETH’s price surge.
