Today, Ethereum ($ETH (-2.69%)) is up around 6% and is trading at around USD 1,900.
Reasons for the price increase:
- Pectra upgrade: The upgrade planned for March 2025 improves scalability and reduces fees - initial tests are already underway on Sepolia and Holesky.
- Strong investor interest: Ethereum ETFs recently received over USD 421m in inflows, with BlackRock's ETHA fund standing out in particular.
- Bullish charts: ETH is above the 21-day EMA, a "golden cross" is in the offing - historically often a harbinger of further price rises.
- Whales are buying: Individual large investors are buying massive amounts of ETH, with over USD 88 million in one day. At the same time, the supply on the exchange drops significantly.
ConclusionTechnological advances and institutional demand are driving the price - ETH remains exciting.
