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Ethereum, the second-largest digital asset, has underperformed expectations since 2023 and hasn't reached new all-time highs this cycle. However, ETH $ETH recently surged 50% from $1,800 to $2,700, potentially driven by excitement around the successful May 7th Pectra upgrade, which consolidates validators and improves network efficiency. $BTC The rally featured multiple strong daily gains, including a +21.8% surge the largest single day increase since May 2021 providing significant relief to investors. $ETH