Ethereum Price Soars 89%, Reaches New High Amidst Institutional Investment

Ethereum’s price has surged over the past month, gaining nearly 89% since April 9th to reach a new high around $2,800. This impressive rally is driven by increased institutional interest following the Pectra upgrade, but on-chain activity remains muted compared to the price gains. Santiment predicts that Ethereum could experience a breakout if retail sentiment turns pessimistic regarding ETH’s price performance.