The price of Ethereum has increased to over 2,800 USD, approaching the significant resistance level of 3,000 USD after recovering from recent price dips.

The market sentiment around Ethereum improved following BlackRock’s purchase of 100,535 ETH for about 284.92 million USD, indicating a strong institutional interest in the asset.

With the anticipated Pectra upgrade set to enhance network efficiency, experts believe that Ethereum will continue to be a favored investment among institutions, particularly compared to Bitcoin.