Ethereum Hits $2,600 with 10% Surge, TVL Jumps to $63B Amid Pectra Upgrade and Lower Gas Fees

Ethereum (ETH) has surged past the $2,500 mark, reaching its highest price since February, with the cryptocurrency now trading at $2,600. This represents a significant 10% increase in its value, reflecting strong market momentum. The rally in Ethereum’s price has been accompanied by a notable increase in its total value locked (TVL), which jumped from $50 billion to $63 billion over just three days. This growth in TVL suggests rising user trust and strong liquidity inflows into the Ethereum network. The surge also led to the liquidation of $100.25 million in short positions. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant