Ethereum's recent 30% price surge over the past 48 hours outpaced Bitcoin, attributed to a successful technical upgrade and a favorable global economic backdrop. Analysts highlight the impact of the Pectra upgrade, aimed at enhancing network scalability and usability, which has deftly addressed previous concerns about Ethereum's efficiency and competition from other layer-1 networks like Solana. Despite ETH's recent gains, it remains significantly below its all-time high of $4,878 reached in 2021. The resurgence in the crypto market is also linked to broader economic news, including U.S.-U.K. trade developments, prompting a rally across risk assets. While Bitcoin has also seen gains, its increase of 8% pales in comparison to Ethereum's performance. Analysts suggest that the future may hold even more upside for ETH as it recovers from past sluggishness and benefits from improved network conditions and competitive positioning.

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