Ethereum jumped 20% to trade above $2,200 on Thursday evening ET following the major Pectra upgrade, driven by renewed risk-on sentiment that spurred investor buying.
“ETH is finally catching up after lagging behind $BTC for most of the year,” said Min Jung, research analyst of Presto Research. “The recent Pectra upgrade has helped restore some confidence, and with ETH/BTC down nearly 40% year-to-date at 0.02, it’s not surprising to see buyers stepping in at these levels.”
Ether’s 20% price jump marks its largest single-day gain since May 2021, investing.com data shows.
The surge followed the activation of the Pectra upgrade — the network’s most significant update since the 2022 Merge — on Tuesday. The upgrade includes code changes that improve staking efficiency, validator operations, and Layer 2 scalability. Ether has since rallied amid a broader crypto market upswing, fueled by renewed U.S.-China trade negotiations.
Nick Ruck, director of LVRG Research, told The Block that the Pectra upgrade triggered a bullish reaction, driving gains in altcoins.
“In addition to positive macroeconomic news, traders believe the crypto industry may have finally found its second wind as a hedge against market uncertainty,” Ruck said. “Investors are changing their perspectives on crypto now that altcoins have departed from a negative trend and found buying pressure from a renewed risk-on sentiment.”
Meanwhile, Bitcoin extended its rally, rising 4% to change hands at $102,526. This week’s rally was fueled by renewed trade talks set to take place in Switzerland between U.S. Treasury Secretary Scott Bessent and Chinese officials, experts said.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
