Ethereum experienced a dramatic 43.6% price surge in just one week, reaching $2,600, reigniting speculation about its future potential. This jump comes as some analysts are cautiously optimistic that this growth could be the beginning of a sustained bull market driven by factors like technological advancements and increasing adoption rates. However, institutional participation remains relatively low, evidenced by significant withdrawals from Ethereum-based exchange-traded funds (ETFs) in the United States. Despite these fluctuations, the upgrade to the Pectra network has boosted its scalability, leading to a surge in activity on Layer 2 solutions. This development is particularly promising as it could lead to sustained deflationary pressure within the ecosystem, if on-chain activity continues to increase.