Ethereum has surpassed the broader crypto market over the past 24 hours, recording the strongest performance of the top 10 digital assets.
According to Encryption Data briefly touched on $2,725, the highest level since February, rising nearly 4% during the reporting period.
In contrast, other major crypto tokens such as Bitcoin, XRP, Solana, BNB, Dogecoin, Cardano, and Tron recorded flat or slightly negative movements, with profit or loss remaining within the 1% range.
The Federal Reserve macroeconomic signals shaped market sentiment over the period.
Valentin Fournier, BRN’s lead research analyst, said Encryption On May 28th, the FOMC was hit with a more tuxedo tone than expected. Policymakers pointed to sustained inflation and rising unemployment as reasons to refrain from immediate interest rate cuts.
But he added:
“Despite the short-term headwinds, long-term catalysts are strong, including institutional accumulation and future regulations. We are maintaining a heavy overweight on Bitcoin while trimming the risks of Altcoin.”
Why did Ethereum prices rise?
Ethereum’s price rallies were supported by new institutional benefits and the successful deployment of the network’s Pectra upgrade.
Confirmed earlier this month, the highly anticipated upgrade has increased user experience, scalability and staking flexibility. It also introduces account abstractions, streamlines data storage, increases validator staking restrictions, and eases withdrawal mechanics.
These enhancements helped to maintain the institutional interest reflected in the influx of Spot Ethereum ETFs.
On May 28, nine US registered ETH ETFs posted a combination of inflows of approximately $85 million, recording net positive flow for the eighth day in a row.
According to data from Sosovalue, these products have raised a total of around $395 million over the period.
In addition to bullish sentiment, Sharplink Gaming announced the $425 million Ethereum-based corporate tregury initiative, appointing Ethereum co-founder Josefulvin as chairman of the board.
Rubin described Ethereum as “the moment of protocols needed by the financial system,” highlighting its role in building open financial infrastructure. He argued that Ethereum enables trust at the protocol level, allowing for safer, more efficient and decentralized innovation.
He said:
“What the Internet did for information, Ethereum does for value. It’s not about banking change, it’s about building open infrastructure where trust is coded into the system at the protocol level.