Ethereum prices saw a significant rebound in Q2, soaring from around $1,400 to over $2,700. This surge can be largely attributed to the successful Pectra upgrade, which fostered investor confidence. Coincidentally, this coincided with positive geopolitical developments when the US and UK signed a historic trade deal on May 8th. The market’s optimism spurred across various cryptocurrencies and digital assets. Even Arthur Hayes, former CEO of BitMEX and current CIO of Maelstrom, believes that sentiment played a more significant role in driving up ETH’s price than technical factors. He estimates that Ethereum’s price could reach $5,000 this year and potentially even surpass $10,000 by the end of 2023. Hayes predicts that Ethereum will assume a dominant position in the crypto space as it continues to evolve and attract institutional investors, possibly marking a significant turning point for the entire crypto ecosystem. While challenges remain, Hayes remains confident about Ethereum’s future success.