Ethereum prices have skyrocketed almost 20% over the past 24 hours to reclaim $2,200 in a two-month high.<\/p>\n
ETH tapped $2,234 during Friday morning trading in Asia as it climbed from below $1,900 on Thursday. The asset has now gained 26% over the past fortnight and more than 50% over the past month, recovering from a dump to bear market lows around $1,400.<\/p>\n
The big move comes as the long-awaited Pectra update went live on mainnet<\/a> on May 7.<\/p>\n According to CoinGlass, more than $280 million in short ETH positions were liquidated<\/a> over the past 24 hours.\u00a0It\u2019s Ethereum\u2019s best day since 2021, wrote Bankless on May 9; however, the asset has had several similar spurts of action over the past year.<\/p>\n Between May 20 and 22 last year, ETH surged 23% from $3,070 to just below $3,800, and between November 6 and 10, it pumped almost 30% from $2,400 to over $3,100, so these moves are not unusual.<\/p>\n Analysts are starting to turn bullish with longer-term predictions for ETH now that the asset has bounced off the bottom. \u2018MMCrypto\u2019 saw a target of $3,700 should the asset return to the top of this wedge pattern.<\/p>\n ETHEREUM TARGET: $3\u2019700 pic.twitter.com\/hNJkh4AajX<\/a><\/p>\n \u2014 MMCrypto (@MMCrypto) May 9, 2025<\/a><\/p>\n\n Web3 growth manager Cas Abb\u00e9 commented that Ethereum\u2019s Pectra upgrade has been really successful. Hours after the upgrade, ETH annual inflation dropped from 0.7% to -0.5% as issuance turned deflationary again, he observed.<\/p>\n Also, the daily ETH burn has doubled since the Pectra Upgrade, \u201cwhich is the reason behind ETH\u2019s pump,\u201d he said before adding:<\/p>\n \u201cWe all know that ETH has been underperforming this entire cycle, due to a lack of demand and increasing supply. If ETH burn increases, the supply issue will be resolved, and it will eventually attract demand too. It feels like $3K ETH in Q2 is coming.\u201d<\/p>\n Ethereum\u2019s Pectra Upgrade has been really successful.<\/p>\n Hours after the Pectra Upgrade, ETH annual inflation dropped from 0.7% to -0.53%.<\/p>\n In simple terms, ETH has turned deflationary again.<\/p>\n Also, daily ETH burn has doubled since Pectra Upgrade, which is the reason behind ETH\u2019s\u2026 pic.twitter.com\/5uOJ4uLPMw<\/a><\/p>\n \u2014 Cas Abb\u00e9 (@cas_abbe) May 8, 2025<\/a><\/p>\n\n The stablecoin and tokenization gold rush is going to usher in a huge wave of net new adoption for crypto over the coming years, said<\/a> Ethereum educator Anthony Sassano, who added.<\/p>\n \u201cAt the center of it all is Ethereum \u2013 the home of stablecoins and tokenized real-world assets.\u201d<\/p>\n Ethereum<\/a> is the industry standard for real-world asset tokenization. According<\/a> to RWA.xyz, Ethereum has a 58% market share for tokenized assets with almost $7 billion on-chain, excluding stablecoins.<\/p>\n When stablecoins are included, Ethereum is still the industry leader with a 55% RWA market share, followed by Tron with almost 30%, but this is primarily due to Tether.<\/p>\n The post Ethereum (ETH) Sees Best Day Since 2021 in 20% Surge<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum prices have skyrocketed almost 20% over the past 24 hours to reclaim $2,200 in a two-month high. ETH tapped $2,234 during Friday morning trading in Asia as it climbed from below $1,900 on Thursday. The asset has now gained 26% over the past fortnight and more than 50% over the past month, recovering from […]<\/p>\n","protected":false},"author":0,"featured_media":65052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-65051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/65051"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65051"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/65051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/65052"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ethereum\u2019s Best Day Since 2021<\/h2>\n
Stablecoin and Tokenization Gold Rush<\/h2>\n