Ethereum Price Surge: $65 Billion TVL Growth Signals $4,000 Rally Potential

Ethereum’s price has jumped 56% to an eight-week high of $2,734 on May 23, driven by a technical bull flag pattern and rising network activity. Increased transaction fees are reaching the highest point in three months, while total value locked on Ethereum smart contracts has surged to a record high of $65.3 billion in just under 30 days. These factors indicate potential for sustained price gains.