Ethereum has surged by 30% over the past 48 hours, outperforming Bitcoin amid a broader rally in cryptocurrency markets. On Friday, its price reached over $2,400, its highest level in three months. Analysts attribute Ethereum's explosive gains to a successful technical upgrade called the Pectra upgrade, which enhances scalability and user-friendliness of the network. This marks a significant turnaround after Ethereum lagged behind Bitcoin for two years. Experts predict further upside potential for Ethereum, particularly as it overcomes internal challenges and increased competition from other layer-1 networks like Solana. The bullish sentiment is also supported by favorable global macroeconomic conditions, including a recent U.S.-U.K. trade deal, contributing to the overall positive market environment. Despite the recent rally, Ethereum's price is still significantly lower than its 2021 peak of $4,878, whereas Bitcoin remains near its all-time high with only a 5% decline from its January peak.

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