Ethereum Surges Past $2,700 as Institutional Activity Drives Gains

Ethereum has hit the $2,700 mark, experiencing a 2.76% surge in value over the course of the day. This price jump can be attributed to strong institutional interest in the asset. The catalyst for this increase is largely due to the upcoming expiration of $2.4 billion worth of Ethereum options contracts. Further contributing to the momentum are positive developments within the Ethereum ecosystem itself, with institutional investors’ ETF inflows and a growing focus on Ethereum’s development efforts driving price volatility. Investers are also drawn to the anticipated growth in adoption due to increased activity from institutional investors.