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Technical upgrade: Ethereum has completed the Danksharding upgrade and related upgrades to Ethereum 2.0, enhancing network performance, attracting more developers and users, increasing demand for Ethereum, and providing a foundation for price rise.
Institutional Attention: The total amount of ETH held by institutions through ETN products exceeds the circulating supply by 18%. A large number of mainstream financial institutions and enterprises recognize and adopt Ethereum, launching Ethereum-based ETFs, which have attracted significant capital inflow.
Macroeconomics: The Federal Reserve's interest rate cut cycle strengthens the safe-haven properties of crypto assets, global economic uncertainty makes Ethereum a choice for safe-haven assets, and loose monetary policy along with inflation concerns also drive investors to channel funds into the cryptocurrency market.