After a rough couple of months, Ethereum traders are becoming increasingly comfortable with ETH’s valuation around $1,800. Despite some optimism returning, traders remain cautious, particularly ahead of the May 7 Pectra upgrade, which could enhance investor sentiment. ETH has been trading below $1,900 since March, causing concerns about its future value following a failed attempt to reclaim $4,000 in late 2024. Additionally, data indicates a shift as Ether’s market cap fell behind the combined value of its four largest rivals for the first time in April 2025. While Ether's market cap now stands at $217 billion after rebounding from $1,400, its derivatives market shows a lack of bullish sentiment. Institutional interest also appears stagnant, contrasting with the growth seen in Bitcoin ETFs. Ethereum's dominance in total value locked remains despite facing challenges from rivals like Solana and Tron. Upcoming developments, particularly the Pectra upgrade, may influence investor interest and ETH's market position, as past upgrades have historically led to price spikes.

Source 🔗