Ethereum Smashes Past $2,700 as Crypto Rally Kicks Into High Gear
Ethereum just punched through a 3-month high with a 4% surge—leaving sluggish traditional assets eating its dust. The crypto market’s favorite smart contract platform is flexing while Wall Street still tries to figure out what an NFT is.
Price action? Aggressive. Momentum? Unstoppable. Traders? Either scrambling to catch up or pretending they ’always believed’—classic finance hypocrisy.
With ETH leading the charge, altcoins are waking up. But let’s be real—half these projects still have ’to the moon’ in their whitepapers. Some things never change.
Why Ethereum price rallied
Ethereum’s price rally was fueled by renewed institutional interest and the successful rollout of the network’s Pectra upgrade.
Finalized earlier this month, the highly anticipated upgrade improved user experience, scalability, and staking flexibility. It also introduces account abstraction, streamlines data storage, raises validator staking limits, and eases withdrawal mechanics.
These enhancements have helped sustain institutional interest, reflected in inflows into spot ethereum ETFs.
On May 28, the nine US-listed ETH ETFs posted combined inflows of approximately $85 million, marking their eighth consecutive day of net positive flow.
Over the period, these products have attracted around $395 million in total, according to SoSoValue data.
Adding to the bullish sentiment, SharpLink Gaming announced a $425 million Ethereum-based corporate treasury initiative and appointed Ethereum co-founder Joseph Lubin as chairman of its board.
Lubin described Ethereum as “the protocol moment that our financial system needs,” emphasizing its role in building open financial infrastructure. He argued that Ethereum enables trust at the protocol level, allowing for more secure, efficient, and decentralized innovation.
He stated:
“What the internet did for information, Ethereum does for value. It’s not about replacing banks, but about building open infrastructure where trust is coded into the system at the protocol level. With trust in the protocol, we can reduce reliance on central gatekeepers, make coordination more efficient, fair, and secure, and unleash waves of innovation across new sectors of our economy.”
