Ethereum’s Bullish Surge: Pectra Upgrade Fuels Rally Toward $3,000

Ethereum (ETH) is experiencing a significant bullish rally, nearing the $3,000 mark, driven by the upcoming Pectra upgrade and favorable market dynamics. Over the past month, ETH has surged by 57%, outperforming all other top-five cryptocurrencies. This rally marks a dramatic reversal from its April low of $1,450, with technical factors and a short squeeze exacerbating the gains. As of May 21, 2025, ETH is trading at $2,542.51, with strong momentum suggesting further upside potential.

Ethereum (ETH) Nears $3,000 Amid Pectra Upgrade-Driven Rally

Ethereum has surged 57% in the past month, outperforming all top-five cryptocurrencies as the Pectra upgrade fuels bullish momentum. The rally marks a dramatic reversal from April’s $1,450 low, with technical factors exacerbating gains.

Market dynamics suggest a short squeeze accelerated the uptrend. When ETH defied prevailing bearish expectations, cascading stop orders triggered a reflexive buying spiral. Such moves typically occur when positioning becomes excessively one-sided.

Ethereum Co-Founder Jeffrey Wilcke Moves $262M in ETH to Kraken, Sparks Market Speculation

Ethereum co-founder Jeffrey Wilcke has transferred 105,736 ETH (approximately $262 million) to a Kraken deposit address, nearly emptying his wallet. The May 20 transaction marks his largest movement since a $147 million transfer last year.

Within minutes of the deposit, eight distinct addresses withdrew equivalent amounts from Kraken, suggesting a strategic redistribution. Despite the sizable movement, Ethereum’s price remained stable, demonstrating market resilience to whale activity.

Vitalik Buterin Proposes Simplified Ethereum Node Operation

Ethereum co-founder Vitalik Buterin has introduced a groundbreaking proposal to streamline node operation on the ethereum network. The new concept, termed "partially stateless nodes," aims to reduce the technical barriers for everyday users by eliminating the need to download the entire blockchain.

Currently, running a full Ethereum node requires storing over a terabyte of rapidly expanding data—a prohibitive requirement for most non-technical users. Buterin’s solution would allow participants to maintain only the network segments relevant to their transactions, potentially democratizing node participation.

The proposal addresses one of Ethereum’s most significant scalability challenges while maintaining network decentralization. This development could mark a pivotal moment in blockchain accessibility, bridging the gap between Core developers and mainstream adoption.

Ethereum Price Eyes Rally as Exchange Supply Hits Decade Low

Ethereum’s exchange reserves have plummeted to a historic low of 4.9%, signaling dwindling sell-side pressure. Over 1 million ETH exited trading platforms in the past month, reflecting strong accumulation trends among holders.

The 12-hour chart’s Golden Cross formation coincides with ETH’s push past $2,570, suggesting technical and fundamental alignment for upward momentum. Market participants appear to be positioning for a sustained rally rather than short-term trading opportunities.